Financial District, Toronto


The Financial District is the central business district of Downtown Toronto, Ontario, Canada. It was originally planned as New Town in 1796 as an extension of the Town of York. It is the main financial district in Toronto and is considered the heart of Canada's finance industry. It is bounded roughly by Queen Street West to the north, Yonge Street to the east, Front Street to the south, and University Avenue to the west, though many office towers in the downtown core have been and are being constructed outside this area, which will extend the general boundaries. Examples of this trend are the Telus Harbour, RBC Centre, and CIBC Square.
It is the most densely built-up area of Toronto, home to banking companies, corporate headquarters, high-powered legal and accounting firms, insurance companies and stockbrokers. In turn, the presence of so many decision-makers has brought advertising agencies and marketing companies. The banks have built large office towers, much of whose space is leased to these companies.
The bank towers and much else in Toronto's core are connected by a system of underground walkways, known as PATH, which is lined with retail establishments making the area one of Toronto's most important shopping districts. The vast majority of these stores are only open during weekdays during the business day when the financial district is populated. During the evenings and weekends, the walkways remain open but the area is almost deserted and most of the stores are closed.
It is estimated 100,000 commuters enter and leave the financial district each working day. Transport links are centred on Union Station at the south end of the financial district, which is the hub of the GO Transit system that provides commuter rail and bus links to Toronto's suburbs.

History

The district's origins date back to the mid to late-19th century when several early banks had head offices located in Toronto. Most of these banks were regional and came and went. It was not until the second half of the 20th Century that the Big Five banks located their headquarters there.
Of the big banks, only CIBC and Toronto-Dominion Bank had full head offices in Toronto:
The Toronto Financial District Business Improvement Area was later retained order to represent all commercial businesses within the district. The organization engages in streetscape improvements, addressing key issues that impact the area, and promoting the area's businesses online.
With much business activity and demand, there are new residential and condominium/towers built inside and around the edges, many of them are connected to the PATH system. In the southeast of the financial district, a new tunnel is under construction from Union Station to connect to Backstage Condo on Yonge and The-Esplanade.

Lost historic buildings

Developments during the mid-20th century led to several to the demolition of several 19th and 20th Century buildings including:

Buildings 200m+

The following is a list of buildings in the Financial District over in height.
NameImageHeight
FloorsYearCategoryNotes
First Canadian Place298 / 978721976Commercial
The Adelaide Toronto277 / 908572012Hotel & Residential
  • Tallest mixed-use building in Canada
  • to roof
  • Tallest building completed in Toronto in the 2010s as of 2017
  • Formerly known as Trump International Hotel & Tower Toronto
    • Scotia Plaza275 / 902681988Commercial
  • Tallest building completed in Toronto in the 1980s
    • TD Canada Trust Tower261 / 856531990Commercial
  • The tower is a part of the Brookfield Place office complex
  • Tallest building completed in Toronto in the 1990s
    • Commerce Court West239 / 784571972Commercial
  • The building is a part of the Commerce Court office complex
    • TD Bank Tower223 / 731561967Commercial
  • The tower is a part of the Toronto-Dominion Centre office complex
  • Tallest building completed in Toronto in the 1960s
    • Bay Adelaide Centre West Tower218 / 715512009Commercial
  • The tower is a part of the Bay Adelaide Centre office complex
  • Tallest building completed in Toronto in the 2000s
    • Bay Wellington Tower208 / 682491991Commercial
  • The tower is a part of the Brookfield Place office complex
    • 88 Scott204 / 669582017Residential
  • Tallest residential building in the Financial District
    • Other major skyscrapers and complexes in the financial district include:
    is a hotel that sits on Front Street, the District's southern boundary.