Scotia Plaza
| Scotia Plaza | |
|---|---|
Scotia Plaza in June 2009
|
|
| Alternative names | Scotia Plaza Tower |
| General information | |
| Type | Commercial offices |
| Location | 40 King Street West Toronto, Ontario |
| Coordinates | 43°38′57″N 79°22′46″W / 43.64917°N 79.37944°WCoordinates: 43°38′57″N 79°22′46″W / 43.64917°N 79.37944°W |
| Construction started | 1985 |
| Completed | 1988 |
| Owner |
Dundee REIT (~66.63%) H&R REIT (~33.33%) |
| Height | |
| Roof | 274.9 m (902 ft) |
| Technical details | |
| Floor count | 68 |
| Floor area | 149,000 m2 (1,600,000 sq ft) |
| Lifts/elevators | 44 |
| Design and construction | |
| Architect | WZMH Architects |
| Developer |
Campeau Corporation Bank of Nova Scotia |
| Structural engineer |
Quinn Dressel Associates Hidi Rae Consulting Engineers |
| Main contractor | PCL Construction |
| References | |
Scotia Plaza is a commercial office complex in the city of Toronto, Ontario, Canada. The complex is situated in the financial district of the downtown core bordered by Yonge Street on the east, King Street West on the south, Bay Street on the west, and Adelaide Street West on the north. At 275 m (902 ft), Scotia Plaza is Canada's third tallest building and the 22nd tallest building in North America. It is connected to the PATH network, and contains 190,000 m2 (2,045,143 sq ft) of office space on 68 floors and 40 retail stores.
The complex was developed by Olympia and York as an expansion of the adjacent headquarters of Scotiabank and the bank continues to occupy approximately 24-floors of the structure. Olympia and York owned the complex from its completion until the company was liquidated due to overwhelming debt in 1993. Scotiabank led a consortium of banks to purchase the mortgage for Scotia Plaza and over the next five years, it purchased additional shares from its partners until it was majority owner of the property.
On January 19, 2012, Scotiabank announced it would sell the iconic building and on May 22, announced a final agreement with Dundee Real Estate Investment Trust and H&R Real Estate Investment Trust for $1.27 billion, making it the last of Canada's major banks to divest ownership of its Toronto headquarters property.
The tower incorporates the historic Beaux-Arts Bank of Nova Scotia Building at 44 King Street West, by architects Mathers and Haldenby with Beck and Eadie, constructed between 1946 and 1951. The 115 m (377 ft), 27-storey structure was designated as significant under the Ontario Heritage Act by the City of Toronto in 1975 and was renovated with a historically-sensitive design that includes a 14-storey glass atrium connecting it to the new structure. The atrium houses a large banking hall incorporating architectural features from both the historic and modern components of the complex and includes a 40-metre (131 ft) large, metal structure referred to as the Circle of the Provinces which houses the teller services for the Bank of Nova Scotia's main branch.
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