[Freegoing]

From the Star article:

"The bank said its lease agreement stipulates that Bay Park Centre will be rebranded under a CIBC name in the coming months."

Wonder what it will be called...

 

[Filip]

From the Star article:

"The bank said its lease agreement stipulates that Bay Park Centre will be rebranded under a CIBC name in the coming months."

Wonder what it will be called...

CIBC Bay Park Centre

 

[DonValleyRainbow]

This ain't surprising. The Big 5 are going to try to outdo each other on Toronto's skyline as long as they stay in existence.

 

[Filip]

Well I wouldn't mind this triggering another building war between the big 5.

 

[AlvinofDiaspar]

Well I wouldn't mind this triggering another building war between the big 5.

I wouldn't mind that, though there isn't any other project on the books (other than Oxford Place, perhaps) that would give 1.75M sq. ft. in space, should they go for the same centripetal model.

AoD

 

[Filip]

I wouldn't mind that, though there isn't any other project on the books (other than Oxford Place, perhaps) that would give 1.79M sq. ft. in space, should they go for the same centripetal model.

AoD

Who knows.. I did NOT see this coming. I work quite closely with CIBC and I've been to dozens of their office locations scattered throughout the financial district. This came out of left field.

 

[raptor]

So how do people think this will impact Commerce Court? It's obviously a huge loss for them. I hope no re-cladding project in order.

 

[AlvinofDiaspar]

From the Globe, some additional rationale:

http://www.theglobeandmail.com/repo...elopment-in-downtown-toronto/article34680498/

So how do people think this will impact Commerce Court? It's obviously a huge loss for them. I hope no re-cladding project in order.

In a way that is respectful of the fact that it is a project by IM Pei & Partners, hopefully.

AoD

 

[Filip]

CIBC has very minor space in Commerce Court West.

 

[salsa]

Lol, is this Toronto?

Is there some sort of bylaw that requires developers to manufacture their own alternative reality in their renders?

 

[AlvinofDiaspar]

Video:

AoD

 

[WillTo]

I used to do co-op work there at CIBC. CIBC is spread out in probably at least a dozen different buildings in the downtown core. It does not make for a cohesive working environment.

Whenever we had "town hall" events we would rent out a hotel ballroom or use the Scotiabank theatre ;-)

I've worked at Atrium on Bay and there were groans about the walk to Union. Those less abled had to cough up an additional 2 tokens every work day to get to the GO Train.

I wonder whether they will also pull in other offices outside the downtown core such as 750 Lawrence West.

 

[taal]

Wow 1.75M ! I wonder where they're consolidating from ! I think CIBC has a huge presence in the atrium on bay / dundas - they also have a very big tech campus around Lawrence and Dufferin

From the article:
"Commerce Court building at Bay Street and King Street, which it currently calls home"

"But I would say that we’re going to reduce our existing building footprint, let’s call it, roughly by half"

^ no surprise there, 50% less space, so they're likely moving from about 3 million worth of office space.

 

[ChesterCopperpot]

Lol, is this Toronto?

*screenshot*

Is there some sort of bylaw that requires developers to manufacture their own alternative reality in their renders?

Apart from the "futuristic" train - what's so wrong with that picture?

 

[WislaHD]

CIBC Bay Park Centre

Hopefully it is that. I actually like the name Bay Park Centre.

I am going to be in the minority here, but I actually don't mind the CIBC logo in the renders.

I am just shocked that it is CIBC. I was sure that it would be an international firm looking to headquarter in Toronto.