September 30, 2014
Torys represented Metrolinx with a team that included Sabrina Gherbaz, Mark Bain, Sarah Crowe, Christie Kneteman and Graeme Murray.
On September 30, 2014, Metrolinx signed an agreement with real estate investor and developer Ivanhoé Cambridge, to develop an integrated transit and office development that will bring bus and rail services to one location, allowing for more transit options and an improved experience.
A brand new GO Bus Terminal, located at the base of Ivanhoé’s planned office complex development at 45/141 Bay Street, will be a significant piece of this development. In addition to the new bus terminal, there will also be a new premium office complex at 45/141 Bay Street that will include up to 2.5 million square feet of office space and a landscaped, elevated "sky park" over the rail corridor, which in a future phase of development, will be connected to the PATH, Toronto’s 29-kilometre (18 mi) network of pedestrian tunnels beneath the downtown core.
As part of the development, Metrolinx has agreed to sell its current bus terminal location at 141 Bay Street to Ivanhoé Cambridge in exchange for a long-term (99-year) lease agreement for the new bus terminal.
Construction is expected to start in spring 2015 on the entire development, and the new GO Bus Terminal is expected to take about three years to build.
Metrolinx is working to provide residents and businesses in the Greater Toronto and Hamilton Area with a transportation system that is modern, efficient and integrated.
Ivanhoé Cambridge is a world-class real estate company that leverages its high-level expertise in all aspects of real estate including investment, development, asset management, leasing and operations, to deliver optimal returns for its investors.
Further information can be found on Metrolinx’s website.