North end | Davenport Road | ||||||
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South end | Lake Ontario | ||||||
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Bay Street is a major thoroughfare in Downtown Toronto, Ontario, Canada. It is the centre of Toronto's Financial District and is often used by metonymy to refer to Canada's financial services industry since succeeding Montreal's St. James Street in that role in the 1970s.
Bay Street begins at Queens Quay (Toronto Harbour) in the south and ends at Davenport Road in the north. The original section of Bay Street ran only as far north as Queen Street West and just south of Front Street where the Grand Trunk rail lines entered into Union Station. Sections north of Queen Street were renamed Bay Street as several other streets were consolidated and several gaps filled in to create a new thoroughfare in the 1920s. The largest of these streets, Terauley Street, ran from Queen Street West to College Street. At these two points, there is a curve in Bay Street. North of College past Grenville Street to Breadalbane Street was St. Vincent Street, which was later bypassed with new alignment to the west leading to a stub now called St. Vincent Lane from Grosvenor Street to Grenville Street.
The street was originally known as Bear Street because of frequent bear sightings in the early history of Toronto. [1] [2] It was renamed Bay Street in 1797 from the fact that it connected Lot Street (present-day Queen Street West) to a bay at the Toronto Harbour. In the 19th century, the intersection of Bay and King Street was home to Toronto's major newspapers: the Mail Building, the old Toronto Star Building, and the William H. Wright Building (old Globe and Mail headquarters) were all located near the intersection.
Until 1922, the section of Bay running north from Queen Street and ending at College Street was known as Terauley Street (named after the Terauley estate of John Simcoe Macaulay near Bay and Queen Streets). Several discontinuous streets existed north of College Street to Davenport Road - St. Vincent Street, Chapel Street, North Street, Ketchum Avenue. By-Law 9316 joined these streets together as far north as Scollard Street in 1922. [3] Finally, By-Law 9884, enacted on January 28, 1924, changed the name of Ketchum Avenue to Bay Street, extending it to Davenport Road. [4] There is a short street called Terauley Lane running west of Bay from Grenville Street to Grosvenor Street.
"Bay Street" is frequently used as a metonym to refer to Toronto's Financial District and the Canadian financial sector as a whole, similar to Wall Street in the United States. "Bay Street banker", as in the phrase "cold as a Bay Street banker's heart", was a term of opprobrium especially among Prairie farmers who feared that Toronto-based financial interests were hurting them. [5] Within the legal profession, the term Bay Street is also used colloquially to refer to the large, full-service business law firms of Toronto.
The intersection of Bay and King Street is often seen as the centre of Canadian banking and finance. Four of Canada's five major banks have office towers at the intersection — the Bank of Montreal at First Canadian Place, Scotiabank at Scotia Plaza, the Canadian Imperial Bank of Commerce (CIBC) at Commerce Court, and Toronto-Dominion Bank at the Toronto-Dominion Centre — and the fifth, the Royal Bank at Royal Bank Plaza, is one block south. Historically, Bay and King was known as the "MINT Corner" from Montreal, Imperial, Nova Scotia, and Toronto, but since 1961 the Imperial Bank has been part of CIBC and the Bank of Nova Scotia has rebranded itself, so this nickname is no longer widely used. The core cluster of towers has crept north with the addition of the 50-storey Bay Adelaide Centre and the St. Regis Hotel.
The Union Station rail, subway, and bus hub partly fronts on Bay at Front, toward the south end of the central business district. The intersection of Bay and Bloor is the location of the Toronto Transit Commission's Bay subway station, toward the north end of the central business district. From its 1931 opening until its 2021 decommissioning, intercity bus service was also provided at the Toronto Coach Terminal on Bay slightly north of Dundas.
Significant condominium development on Bay, north of the financial district, boomed during the 1990s and construction continues on large, 40-plus storey condominiums and multi-use buildings today. The area is defined by Dundas Street to the south and Bloor/Yorkville to the north and crosses through Toronto's Discovery District. Another prominent intersection is the one nearest Yorkville at Bay and Bloor, the centre of an expensive shopping district known as Mink Mile.
The area attracts many who work in the financial district and those who work in the Discovery District, nearby hospitals and schools (Toronto Metropolitan University and the University of Toronto). More than 67 per cent (or 10,380) of residents in this area are in the working ages of 25–64, significantly higher than the City of Toronto's average of 58%. [6]
Notable buildings include:
Bay Street is served by the route 19 Bay, which is one of few bus routes exclusively serving Downtown Toronto. Bay Street used to be served by streetcars lines, which were gradually phased out after the north–south Yonge and University subway lines opened in 1954 and 1963 respectively. The remaining streetcar tracks between Dundas and College Streets are now used for short turns and diversions. [7]
Yonge Street is a major arterial route in the Canadian province of Ontario connecting the shores of Lake Ontario in Toronto to Lake Simcoe, a gateway to the Upper Great Lakes. Ontario's first colonial administrator, John Graves Simcoe, named the street for his friend Sir George Yonge, an expert on ancient Roman roads.
Spadina Avenue is one of the most prominent streets in Toronto, Ontario, Canada. Running through the western section of downtown, the road has a very different character in different neighbourhoods.
Yorkville is a neighbourhood and former village in Toronto, Ontario, Canada. It is roughly bounded by Bloor Street to the south, Davenport Road to the north, Yonge Street to the east and Avenue Road to the west, and it is part of The Annex neighbourhood. Established as a separate community in 1830, it was annexed into Toronto in 1883. Yorkville comprises residential areas, office space, and retail shopping.
King Street is a major east–west commercial thoroughfare in Toronto, Ontario, Canada. It was one of the first streets laid out in the 1793 plan of the town of York, which became Toronto in 1834.
Path is a network of underground pedestrian tunnels, elevated walkways, and at-grade walkways connecting the office towers of Downtown Toronto, Ontario, Canada. It connects more than 70 buildings via 30 kilometres (19 mi) of tunnels, walkways, and shopping areas. According to Guinness World Records, Path is the largest underground shopping complex in the world, with 371,600 square metres (4,000,000 sq ft) of retail space which includes over 1,200 retail fronts (2016). As of 2016, over 200,000 residents and workers use the Path system daily with the number of private dwellings within walking distance at 30,115.
Queen is a subway station on Line 1 Yonge–University in Toronto, Ontario, Canada. It is located under Yonge Street north from Queen Street to Shuter Street. Wi-Fi service is available at this station.
Toronto Civic Railways (TCR) was a streetcar operator created and owned by the City of Toronto, Ontario, Canada, to serve newly annexed areas of the city that the private operator Toronto Railway Company refused to serve. When the Toronto Railway Company's franchise expired in 1921, its services were combined with those of the Toronto Civic Railways, and are now assumed by the new Toronto Transportation Commission (TTC). The first route of the TCR started operation on December 18, 1912.
Bloor Street is an east–west arterial road in Toronto, Ontario, Canada. Bloor Street runs from the Prince Edward Viaduct, which spans the Don River Valley, westward into Mississauga where it ends at Central Parkway. East of the viaduct, Danforth Avenue continues along the same right-of-way. The street, approximately 25 kilometres (16 mi) long, contains a significant cross-sample of Toronto's ethnic communities. It is also home to Toronto's famous shopping street, the Mink Mile.
Bathurst Street is a main north–south arterial road in Toronto, Ontario, Canada. It begins at an intersection of the Queens Quay roadway, just north of the Lake Ontario shoreline. It continues north through Toronto to the Toronto boundary at Steeles Avenue. It is a four-lane thoroughfare throughout Toronto. The roadway continues north into York Region where it is known as York Regional Road 38.
504 King is an east–west Toronto streetcar route in Ontario, Canada. It serves King Street in Downtown Toronto as well as Broadview Avenue on the east end and Roncesvalles Avenue on the west end of the line. The route consists of two overlapping branches: 504A between Line 2 Bloor–Danforth's Dundas West station and Distillery Loop, and 504B between Broadview station – also on Line 2 – and Dufferin Gate Loop. The two branches overlap on King Street between Dufferin and Sumach streets, both passing St. Andrew station and King station on subway Line 1 Yonge–University.
The 505 Dundas is a Toronto streetcar route run by the Toronto Transit Commission in Ontario, Canada. The route is roughly U-shaped running mainly along Dundas Street between Dundas West and Broadview stations several blocks south of the Line 2 Bloor–Danforth subway.
Downtown Toronto is the main city centre of Toronto, Ontario, Canada. Located entirely within the district of Old Toronto, it is approximately 16.6 square kilometres in area, bounded by Bloor Street to the northeast and Dupont Street to the northwest, Lake Ontario to the south, the Don Valley to the east, and Bathurst Street to the west. It is also the home of the municipal government of Toronto and the Government of Ontario.
The Queensway–Humber Bay, known officially as Stonegate–Queensway, is a neighbourhood in the southwest of Toronto, Ontario, Canada. It is located in the southeast area of the former City of Etobicoke.
The Discovery District is one of the commercial districts in Downtown Toronto, Ontario, Canada. It has a high concentration of hospitals and research institutions, particularly those related to biotechnology. The district is roughly bounded by Bloor Street on the north, Bay Street on the east, Dundas Street on the south, and Spadina Avenue on the west.
Lansdowne Avenue is an arterial road in Toronto, Ontario. It runs north–south and starts at Queen Street West and proceeds north to St. Clair Avenue West. Lansdowne Avenue is primarily a four-lane arterial road, with two lanes regularly used for motor vehicle parking.
Ossington Avenue is a main or arterial street in Toronto, Ontario, Canada, west of downtown. While the northern 3 kilometres (1.9 mi) of Ossington Avenue is residential, its southern terminus is popularly known as the Ossington Strip, an area popular for its dining, nightlife and shopping establishments.
The Harbord streetcar line was an east-west line within the Toronto streetcar system. The route was named after Harbord Street even though only a small portion of the route was along the namesake street. One distinct characteristic of the route was its zip-zag nature, making many 90-degree turns onto the various streets along its route. The route was retired in 1966 when the Toronto Transit Commission (TTC) opened the Bloor–Danforth subway line, the city's first east-west subway line.