Downtown Toronto is getting some tall new construction on Front Street, according to Cadillac Fairview (CF).
On Wednesday, CF announced the construction of a 46-storey office tower at 160 Front Street West, on the northeast corner of Front and Simcoe Streets.
The development features 1.2 million sq. ft. of office space, 339 parking stalls, 12,290 sq. ft. of retail space and is slated to open in the fall of 2022.
As for the tenants, the building’s inaugural client is CF’s owner, Ontario Teachers’ Pension Plan, which will be relocating their head office from North York to the new office tower.
“Toronto is a vibrant and international city, and the downtown core is a major hub of finance. We believe this is the right time to plan our move closer to our partners and the pool of talent we will need to see us into the future,” said Ron Mock, President and CEO, Ontario Teachers’ Pension Plan, in a statement.
“This new building will have many attractive elements to help foster teamwork and innovation, in a healthy and sustainable environment that is close to many different transit options.”
Cadillac Fairview currently has $1.5 billion of major office projects under development, including the $479 million building at 16 York Street, the $200 million BMO Campus at CF Toronto Eaton Centre, and the $60 million revitalization of 2 Queen Street West.