81-141 Bay Street

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Image Credit: Ivanhoé Cambridge

Ranking for 2019: 24

Industry Sector: Transit

Specific Sector: Public Building

Range: $1 billion - $5 billion

Project Value: $2,000,000,000

Provincial: Metrolinx: around $100 million

Government Funds Involved: Ivanhoé Cambridge and Metrolinx stress the figures are initial estimates, and the current $2 billion total is subject to change.

Funding Source: Public-Private

Location: Toronto, Ontario

Estimated End Date of Substantial Completion: 2018


The Bay Street project involves the construction of two new commercial buildings, joined by a one-acre elevated park over the rail corridor near Union Station in downtown Toronto.

A key compnent of the construction is the new Union Station Bus Terminal. Construction got underway on the terminal in June of 2017. The terminal will provide stronger connections for users of the rail and bus networks, and provide straightforward access to the Gardiner Expressway. The new terminal also includes over 1,000 bicycle parking spots and integrated green space.

Steel and concrete works at 81 Bay Street continued throughout 2018, with the concrete core of the building rising at 1.5 storeys per six work days during peak periods. The final two super steel columns on the west side were installed in September.

Phase 1 of the project—81 Bay Street—is scheduled for completion 2020. Phase 2, construction of 141 Bay Street and the elevated park, is set to be complete in 2023.

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