{"id":1004181628,"date":"2017-06-23T08:56:14","date_gmt":"2017-06-23T16:56:14","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004181628"},"modified":"2022-12-09T02:09:08","modified_gmt":"2022-12-09T10:09:08","slug":"hines-ivanhoe-break-ground-on-torontos-cibc-square","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/hines-ivanhoe-break-ground-on-torontos-cibc-square\/","title":{"rendered":"Hines, Ivanho\u00e9 Break Ground on Toronto&#8217;s CIBC Square"},"content":{"rendered":"<p>By IvyLee Rosario<\/p>\n<div id=\"attachment_1004181631\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/CIBC-Ground-Breaking.jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img decoding=\"async\" aria-describedby=\"caption-attachment-1004181631\" data-attachment-id=\"1004181631\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/hines-ivanhoe-break-ground-on-torontos-cibc-square\/cibc-ground-breaking\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/CIBC-Ground-Breaking.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"CIBC ground breaking at 81 Bay St.\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;CIBC ground breaking at 81 Bay St.&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/CIBC-Ground-Breaking.jpg?w=800\" loading=\"lazy\" class=\"wp-image-1004181631 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/CIBC-Ground-Breaking.jpg\" alt=\"CIBC ground breaking at 81 Bay St.\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/CIBC-Ground-Breaking.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/CIBC-Ground-Breaking.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/CIBC-Ground-Breaking.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004181631\" class=\"wp-caption-text\">CIBC ground breaking at 81 Bay St.<\/p><\/div>\n<p>Hines, in partnership with Ivanho\u00e9 Cambridge, broke ground on 81 Bay St. for its CIBC Square development in Toronto. Formerly known as Bay Park Centre, the project will comprise two buildings and a one-acre elevated park over the rail corridor.\u00a0The first building is scheduled for completion in 2020. The second property, located at 131 Bay St., and the elevated park, will be completed in 2023.\u00a0<\/p>\n<p><em>\u201cWe are excited to be part of this dynamic project team that will be delivering this world-class urban campus in the heart of Toronto,&#8221;<\/em> said Kevin Shannahan, CEO of Hines Canada, in prepared remarks. <em>&#8220;With this project, we are contributing vibrant, technically and socially advanced architecture befitting the city for decades to come.\u201d<\/em><\/p>\n<h2>Bay Street Takeover<\/h2>\n<p>CIBC Square will be located adjacent to Toronto&#8217;s Union Station and will complete the Union Station campus master plan by including a bus terminal and direct links to the TTC Subway, Via Rail, UP Express, GO Train and PATH.\u00a0The project will be one of the last office developments with a Bay Street address in the business district.\u00a0<\/p>\n<p>The development, designed by architect firms WilkinsonEyre and Adamson Associates, aims to attain LEED Platinum Core &amp; Shell certification, WELL Certification and WiredScore Platinum accreditation.<\/p>\n<h2>Campus Details<\/h2>\n<div id=\"attachment_1004181632\" style=\"width: 310px\" class=\"wp-caption alignleft\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/CIBC-Square.jpeg\" target=\"_blank\" rel=\"noopener noreferrer\"><img decoding=\"async\" aria-describedby=\"caption-attachment-1004181632\" data-attachment-id=\"1004181632\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/hines-ivanhoe-break-ground-on-torontos-cibc-square\/cibc-square\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/CIBC-Square.jpeg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"CIBC Square\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;CIBC Square&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/CIBC-Square.jpeg?w=800\" loading=\"lazy\" class=\"wp-image-1004181632 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/CIBC-Square.jpeg\" alt=\"CIBC Square\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/CIBC-Square.jpeg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/CIBC-Square.jpeg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/CIBC-Square.jpeg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004181632\" class=\"wp-caption-text\">CIBC Square<\/p><\/div>\n<p>The buildings will be constructed on a 2.9 million-square-foot urban campus that will feature 49 and 50 floors, respectively. Ceiling heights will reach over nine feet on the office levels and 12 feet on the podium floors.\u00a0Amenities will include fitness and bicycle-parking facilities, a variety of restaurants including a caf\u00e9, white-tablecloth style and a casual eatery, and a first-to-market interior VIP parking and limo\/taxi pick-up and drop-off facilities.<\/p>\n<p>The park, which was developed in co-ordination with Biederman Redevelopment Ventures, will be connecting the two buildings on the fourth floor.\u00a0<\/p>\n<p><em>\u201cCIBC Square will be a remarkable addition to Toronto\u2019s skyline and a significant contributor to its thriving economy,&#8221;<\/em>\u00a0said Daniel Fournier, chairman &amp; CEO of Ivanho\u00e9 Cambridge, in prepared remarks. <em>&#8220;We are delighted to make a significant and sustainable impact to the development of Canada\u2019s largest city, with an elegant, modern and efficient project.\u201d<\/em><\/p>\n<p>Another recent\u00a0<a href=\"https:\/\/www.commercialsearch.com\/news\/hines-henderson-park-enter-hotel-market-in-greece\/\">international\u00a0partnership<\/a> for Hines was with\u00a0Henderson Park, in which the companies acquired the Athens Ledra Hotel in Greece, for $37 million.\u00a0<\/p>\n<p><em>Images courtesy of Hines<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The project will comprise two buildings and a one-acre elevated park over the rail corridor. The first property is scheduled for completion in 2020. <\/p>\n","protected":false},"author":746,"featured_media":1004181631,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,16,21742,21747,21786],"tags":[36354,32797,33565,32779,34432,36353,34732],"class_list":["post-1004181628","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-international","category-latest","category-office","category-sustainability","tag-adamson-associates","tag-hines","tag-ivanhoe-cambridge","tag-leed","tag-well-certification","tag-wilkinson-eyre-architects","tag-wiredscore"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Hines, Ivanho\u00e9 Break Ground on Toronto&#039;s CIBC Square - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/hines-ivanhoe-break-ground-on-torontos-cibc-square\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Hines, Ivanho\u00e9 Break Ground on Toronto&#039;s CIBC Square\" \/>\n<meta property=\"og:description\" content=\"The project will comprise two buildings and a one-acre elevated park over the rail corridor. 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