Current Plans
In October 2005, plans had been filed with the City of Toronto to develop the property. An information sign (notice to amend the by law regulating zoning) was placed on Bay St. between 347 Bay and 355 Bay, both also Brookfield properties. The notice, in short, informs the public that three mixed-use high-rise towers surrounding an urban plaza will be built. The towers will vary in size from 43 to 50 storeys and contain an aggregate density of 240,396 sq. metres. Brookfield Properties has signed KPMG and Goodmans as anchor tenants for the first tower, with Fasken Martineau DuMoulin and Heenan Blaikie also taking up residence in the building.
In June 2006, both buildings on Bay Street attached to this property were emptied of tenants and by December 11, 2006, both buildings had been taken down, with the north and west facades of the National Building (347 Bay) being removed for incorporation into the new buildings. The National Building had only recently been designated a heritage building under the Ontario Heritage Act (Part IV). By December 2006, dismantling of the service shaft stump was complete. Construction of the PATH tunnel north from Scotia Plaza through the Bay Adelaide Centre started in fall 2007.
Read more about this topic: Bay Adelaide Centre
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