Toronto1834
Active Member
Is this stuff about new station entrances related to the previous iteration of Canada Square plans that showed the entrance lobby at the corner of Yonge and Eglinton being lopped off the existing building?
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mikejb
Active Member
y
Yes, they just did a new 20-year renewal and are beginning a 4-year project to redo all their office space starting this year.
1Ć0
Active Member
Oxford has certainly become more bullish on office recently...
Amare
Senior Member
Wow well this is a game changing reversal of decision by Oxford. Looks another entire re-think/re-design of the plans would be in the works especially if a new TTC bus terminal is going to be included in this. Retaining both of the office towers will make this plan....a lot more muted compared to before.
Northern Light
Superstar
The report I linked above has been adopted at TTC today with the following amendment:
AHK
Senior Member
Formal announcement of the Oxford Development renewal plans and the Canadian Tire lease for Canada Square:
Oxford Properties and CT REIT announce a major investment to retrofit Canada Square in Toronto. Anchored by a 20-year lease with Canadian Tire Corporation, the project will modernize 680,000 square feet of office space and enhance the Yonge Street streetscape, transforming the vibrant midtown hub for work and play. (CNW Group/Canadian Tire Corporation, Limited)
TORONTO, June 9, 2025 /CNW/ - Oxford Properties Group ("Oxford"), the global real estate arm of OMERS, and CT Real Estate Investment Trust ("CT REIT") (TSX: CRT.UN) today announced, in partnership with Canadian Tire Corporation ("CTC") (TSX: CTC) (TSX: CTC.A), a transformative investment to retrofit the existing office buildings at Canada Square, a key midtown Toronto hub.
This Canadian-led partnership includes a 550,000 square foot, 20-year office lease with CTC, demonstrating the enduring appeal of centrally located, transit-connected workplaces and representing a major investment in Toronto's urban core.
The redevelopment project represents a combined investment of over $200 million by Canada Square co-owners Oxford and CT REIT. The two office towers at 2180 and 2200 Yonge Street will be retrofitted to deliver 680,000 square feet of highly functional and modernized office space, over 80% of which will be anchored by CTC. Having operated its head office at Canada Square for over 50 years, CTC is also investing to build a next-generation headquarters for thousands of employees.
"This is a proud milestone for Canadian Tire and a major reinvestment in a neighbourhood we've called home for more than half a century," said Greg Hicks, President and CEO, Canadian Tire Corporation. "We're excited to help transform this vibrant corner of the city. Our employees will be among the thousands who come here each day – for work, for play and for the ease of new transit connections in every direction."
Originally constructed in the 1960s and 1970s, the 18-storey building at 2180 Yonge Street will undergo internal upgrades and a complete façade renewal, followed by a full renovation of the 17-storey tower at 2200 Yonge Street. Construction, which will begin in late 2025, will minimize embodied carbon from the project while introducing significant energy efficiency upgrades in support of LEED Certification. The retrofit work will also deliver new employee amenities and approximately 15,000 square feet of modern retail space on Yonge Street, significantly improve the streetscape and offer a refreshed retail experience for the neighbourhood.
"This 'made in Canada' solution which sees the coming together of these great Canadian institutions to revitalize a key hub for Torontonians is a proud moment for OMERS and Oxford," said Blake Hutcheson, President and CEO of OMERS. "This investment represents our ongoing commitment to being a champion for Canada, here at home and around the world. We are proud to put our pensioners' dollars to work to improve our cities while, at the same time, delivering on our obligation to generate returns to pay pensions for our members."
The project will further benefit the community by delivering an upgraded and more accessible TTC entrance on Yonge Street to help local residents and workers more efficiently access Eglinton station.
"Canada Square is a crown-jewel property and a generational asset, and this first step in its redevelopment allows us to begin to unlock its full potential," said Kevin Salsberg, President and CEO, CT REIT. "This major reinvestment exemplifies our commitment to enhancing our assets and providing reliable, durable and growing results for our unitholders. We're building for today while setting the stage for the decades to come."
"This substantial investment at Canada Square is part of Oxford's deep conviction that well-located, high-quality, and sustainable workplaces that focus on the employee experience will continue to outperform," said Daniel Fournier, Executive Chair at Oxford Properties. "A company of Canadian Tire's stature signing a multi-decade office lease speaks to the trust our customers have in Oxford to create their ideal workplace. Not only is this an environmentally friendly approach to revitalizing one of the most transit-connected sites in the city, but it brings a substantial amount of employment to the neighbourhood and will benefit Torontonians for generations to come as we continue to advance our long-term plans for Canada Square."
The office retrofit project is an important step towards the planned redevelopment of the 9.2-acre site into a vibrant, mixed-use addition to the community. Oxford and CT REIT continue to advance plans for the west side of the site that contemplate a significant amount of critically needed new rental housing and public open space in one of the city's most transit-connected nodes.
Oxford Properties and CT REIT Announce Major Retrofit at Canada Square, Anchored by New 20-year Office Lease with Canadian Tire Corporation Français
Oxford Properties and CT REIT announce a major investment to retrofit Canada Square in Toronto. Anchored by a 20-year lease with Canadian Tire Corporation, the project will modernize 680,000 square feet of office space and enhance the Yonge Street streetscape, transforming the vibrant midtown hub for work and play. (CNW Group/Canadian Tire Corporation, Limited)
TORONTO, June 9, 2025 /CNW/ - Oxford Properties Group ("Oxford"), the global real estate arm of OMERS, and CT Real Estate Investment Trust ("CT REIT") (TSX: CRT.UN) today announced, in partnership with Canadian Tire Corporation ("CTC") (TSX: CTC) (TSX: CTC.A), a transformative investment to retrofit the existing office buildings at Canada Square, a key midtown Toronto hub.
This Canadian-led partnership includes a 550,000 square foot, 20-year office lease with CTC, demonstrating the enduring appeal of centrally located, transit-connected workplaces and representing a major investment in Toronto's urban core.
The redevelopment project represents a combined investment of over $200 million by Canada Square co-owners Oxford and CT REIT. The two office towers at 2180 and 2200 Yonge Street will be retrofitted to deliver 680,000 square feet of highly functional and modernized office space, over 80% of which will be anchored by CTC. Having operated its head office at Canada Square for over 50 years, CTC is also investing to build a next-generation headquarters for thousands of employees.
"This is a proud milestone for Canadian Tire and a major reinvestment in a neighbourhood we've called home for more than half a century," said Greg Hicks, President and CEO, Canadian Tire Corporation. "We're excited to help transform this vibrant corner of the city. Our employees will be among the thousands who come here each day – for work, for play and for the ease of new transit connections in every direction."
Originally constructed in the 1960s and 1970s, the 18-storey building at 2180 Yonge Street will undergo internal upgrades and a complete façade renewal, followed by a full renovation of the 17-storey tower at 2200 Yonge Street. Construction, which will begin in late 2025, will minimize embodied carbon from the project while introducing significant energy efficiency upgrades in support of LEED Certification. The retrofit work will also deliver new employee amenities and approximately 15,000 square feet of modern retail space on Yonge Street, significantly improve the streetscape and offer a refreshed retail experience for the neighbourhood.
"This 'made in Canada' solution which sees the coming together of these great Canadian institutions to revitalize a key hub for Torontonians is a proud moment for OMERS and Oxford," said Blake Hutcheson, President and CEO of OMERS. "This investment represents our ongoing commitment to being a champion for Canada, here at home and around the world. We are proud to put our pensioners' dollars to work to improve our cities while, at the same time, delivering on our obligation to generate returns to pay pensions for our members."
The project will further benefit the community by delivering an upgraded and more accessible TTC entrance on Yonge Street to help local residents and workers more efficiently access Eglinton station.
"Canada Square is a crown-jewel property and a generational asset, and this first step in its redevelopment allows us to begin to unlock its full potential," said Kevin Salsberg, President and CEO, CT REIT. "This major reinvestment exemplifies our commitment to enhancing our assets and providing reliable, durable and growing results for our unitholders. We're building for today while setting the stage for the decades to come."
"This substantial investment at Canada Square is part of Oxford's deep conviction that well-located, high-quality, and sustainable workplaces that focus on the employee experience will continue to outperform," said Daniel Fournier, Executive Chair at Oxford Properties. "A company of Canadian Tire's stature signing a multi-decade office lease speaks to the trust our customers have in Oxford to create their ideal workplace. Not only is this an environmentally friendly approach to revitalizing one of the most transit-connected sites in the city, but it brings a substantial amount of employment to the neighbourhood and will benefit Torontonians for generations to come as we continue to advance our long-term plans for Canada Square."
The office retrofit project is an important step towards the planned redevelopment of the 9.2-acre site into a vibrant, mixed-use addition to the community. Oxford and CT REIT continue to advance plans for the west side of the site that contemplate a significant amount of critically needed new rental housing and public open space in one of the city's most transit-connected nodes.
Northern Light
Superstar
I'll post the full size version of the render above:
Midtown Hank
Active Member
Lipstick on a pig.
UtakataNoAnnex
Senior Member
...I think this pig is okay to put lipstick on it though. /shrug
Towered
Superstar
I thought that building was set to be demolished...
artyboy123
Senior Member
More construction and more headache in Yonge and Eglinton!
AlvinofDiaspar
Moderator
Good to see CT stay put and the building getting refurbished - but not entirely convinced an all-glass podium is a good move.
AoD
AoD
D
DavidCapizzano
Guest
Yeah I am disappointed to see the glassing over of the podium. Those pleated solid panels really add some weight and mid century panache to this complex. Would have liked to see them restored / reimagined.
AlvinofDiaspar
Moderator
I thought this would be an instance where using curved glazing a la 76 Adelaide West would be perfect - maintaining a kind of rhythm to the podium facade while satisfying the goal of full transparency.
AoD
Amare
Senior Member
If they actually matched the glass on the proposed glass podium with what's on the tower, it would actually look pretty good.
But this looks like it's going to be nothing except pure underwhelming sterility unfortunately.
But this looks like it's going to be nothing except pure underwhelming sterility unfortunately.