Commerce Court
Encyclopedia
Commerce Court is a complex of four office buildings on King- and Bay-streets
in the financial district
of Toronto
, Ontario
, Canada
, The main tenant is the Canadian Imperial Bank of Commerce
(CIBC). The buildings are a mix of Art Deco
, International
and early Modernism
architectural styles.
The first building, now known as Commerce Court North, was built in 1930 as the headquarters of the Canadian Bank of Commerce
, a precursor bank to the current main tenant. Designed by the Canadian firm Pearson and Darling
with the American bank specialists York and Sawyer
as consulting architects, the 34-storey limestone
clad tower was the tallest building in the British Empire
/Commonwealth
for roughly three decades, until 1962. At the time of its construction, the building was one of the most opulent corporate headquarters in Canada, and featured a public observation deck (since closed to the public due to safety and liability concerns).
and stainless steel
glass curtain wall international Style
Commerce Court West designed by Pei Cobb Freed & Partners
(the tallest building in the complex, at 57 storeys, and the tallest building in Canada from 1972–1976), Originally, Commerce Court West 57 was an observation floor. Commerce Court East (1972: 13 storeys) and Commerce Court South (5 storeys) are glass and applied masonry structures by Zeidler Partnership Architects
in 1972. In 1994, Zeidler Partnership Architects
was commissioned to renovate the Commerce Court urban plaza, the banking area at the base of Commerce Court West, and the below-grade retail area. There are 65 retails shops in the plaza below the complex.
The Canadian Imperial Bank of Commerce
sold the complex in April, 2000, now managed by GWL Realty Advisors, but the head office of the bank remains the anchor tenant.
On Wednesday, January 9, 2008, a portion of a CIBC sign at the top of the Commerce Court West building blew off as a result of wind gusts. Police cordoned off the area as a precaution. As a result, Bay St. from Front to Richmond and King St. from York to Yonge were shut down. Toronto Transit Commission
(TTC) service was diverted.
This took place eight months after a piece of white marble panel fell from the 60th storey of the First Canadian Place
building, and ten months after layers of ice fell off the CN Tower
.
.
Bay Street
Bay Street, originally known as Bear Street, is a major thoroughfare in Downtown Toronto. It is the centre of Toronto's Financial District and is often used by metonymy to refer to Canada's financial industry since succeeding Montreal's St. James Street in that role in the 1970s...
in the financial district
Financial District, Toronto
The Financial District is a business district in Toronto, Ontario, Canada, within the downtown core. It was originally planned as New Town in 1796 as an extension of the Town of York . It is the main financial district in Toronto, and is the financial heart of Canada...
of Toronto
Toronto
Toronto is the provincial capital of Ontario and the largest city in Canada. It is located in Southern Ontario on the northwestern shore of Lake Ontario. A relatively modern city, Toronto's history dates back to the late-18th century, when its land was first purchased by the British monarchy from...
, Ontario
Ontario
Ontario is a province of Canada, located in east-central Canada. It is Canada's most populous province and second largest in total area. It is home to the nation's most populous city, Toronto, and the nation's capital, Ottawa....
, Canada
Canada
Canada is a North American country consisting of ten provinces and three territories. Located in the northern part of the continent, it extends from the Atlantic Ocean in the east to the Pacific Ocean in the west, and northward into the Arctic Ocean...
, The main tenant is the Canadian Imperial Bank of Commerce
Canadian Imperial Bank of Commerce
The Canadian Imperial Bank of Commerce is one of Canada's chartered banks, fifth largest by deposits. The bank is headquartered at Commerce Court in Toronto, Ontario. CIBC's Institution Number is 010, and its SWIFT code is CIBCCATT....
(CIBC). The buildings are a mix of Art Deco
Art Deco
Art deco , or deco, is an eclectic artistic and design style that began in Paris in the 1920s and flourished internationally throughout the 1930s, into the World War II era. The style influenced all areas of design, including architecture and interior design, industrial design, fashion and...
, International
International style (architecture)
The International style is a major architectural style that emerged in the 1920s and 1930s, the formative decades of Modern architecture. The term originated from the name of a book by Henry-Russell Hitchcock and Philip Johnson, The International Style...
and early Modernism
Modernism
Modernism, in its broadest definition, is modern thought, character, or practice. More specifically, the term describes the modernist movement, its set of cultural tendencies and array of associated cultural movements, originally arising from wide-scale and far-reaching changes to Western society...
architectural styles.
1931 North Tower
Canadian Bank of Commerce
The Canadian Bank of Commerce was a Canadian bank cofounded in 1867 by William McMaster. The Canadian Bank of Commerce opened in Toronto with a charter in 1866 that it purchased from the defunct Bank of Canada, which folded in 1858....
, a precursor bank to the current main tenant. Designed by the Canadian firm Pearson and Darling
Pearson and Darling
Pearson and Darling was an architectural firm based in Toronto from 1897 through 1923, a key player in shaping the urban look of the city and the rest of Canada in the first half of the 20th century.-Formation:...
with the American bank specialists York and Sawyer
York and Sawyer
The architectural firm of York and Sawyer produced many outstanding structures, exemplary of Beaux-Arts architecture as it was practiced in the United States. The partners Edward York and Philip Sawyer had both trained in the office of McKim, Mead, and White...
as consulting architects, the 34-storey limestone
Limestone
Limestone is a sedimentary rock composed largely of the minerals calcite and aragonite, which are different crystal forms of calcium carbonate . Many limestones are composed from skeletal fragments of marine organisms such as coral or foraminifera....
clad tower was the tallest building in the British Empire
British Empire
The British Empire comprised the dominions, colonies, protectorates, mandates and other territories ruled or administered by the United Kingdom. It originated with the overseas colonies and trading posts established by England in the late 16th and early 17th centuries. At its height, it was the...
/Commonwealth
Commonwealth of Nations
The Commonwealth of Nations, normally referred to as the Commonwealth and formerly known as the British Commonwealth, is an intergovernmental organisation of fifty-four independent member states...
for roughly three decades, until 1962. At the time of its construction, the building was one of the most opulent corporate headquarters in Canada, and featured a public observation deck (since closed to the public due to safety and liability concerns).
Later buildings
In 1972, three other buildings were erected, thus creating the Commerce Court complex: glassGlass
Glass is an amorphous solid material. Glasses are typically brittle and optically transparent.The most familiar type of glass, used for centuries in windows and drinking vessels, is soda-lime glass, composed of about 75% silica plus Na2O, CaO, and several minor additives...
and stainless steel
Stainless steel
In metallurgy, stainless steel, also known as inox steel or inox from French "inoxydable", is defined as a steel alloy with a minimum of 10.5 or 11% chromium content by mass....
glass curtain wall international Style
International style (architecture)
The International style is a major architectural style that emerged in the 1920s and 1930s, the formative decades of Modern architecture. The term originated from the name of a book by Henry-Russell Hitchcock and Philip Johnson, The International Style...
Commerce Court West designed by Pei Cobb Freed & Partners
I. M. Pei
Ieoh Ming Pei , commonly known as I. M. Pei, is a Chinese American architect, often called a master of modern architecture. Born in Canton, China and raised in Hong Kong and Shanghai, Pei drew inspiration at an early age from the gardens at Suzhou...
(the tallest building in the complex, at 57 storeys, and the tallest building in Canada from 1972–1976), Originally, Commerce Court West 57 was an observation floor. Commerce Court East (1972: 13 storeys) and Commerce Court South (5 storeys) are glass and applied masonry structures by Zeidler Partnership Architects
Eberhard Zeidler
Eberhard Heinrich Zeidler, OC, O.Ont is a Canadian architect.he studied at the Technische Hochschule, Karlsruhe, Germany....
in 1972. In 1994, Zeidler Partnership Architects
Eberhard Zeidler
Eberhard Heinrich Zeidler, OC, O.Ont is a Canadian architect.he studied at the Technische Hochschule, Karlsruhe, Germany....
was commissioned to renovate the Commerce Court urban plaza, the banking area at the base of Commerce Court West, and the below-grade retail area. There are 65 retails shops in the plaza below the complex.
The Canadian Imperial Bank of Commerce
Canadian Imperial Bank of Commerce
The Canadian Imperial Bank of Commerce is one of Canada's chartered banks, fifth largest by deposits. The bank is headquartered at Commerce Court in Toronto, Ontario. CIBC's Institution Number is 010, and its SWIFT code is CIBCCATT....
sold the complex in April, 2000, now managed by GWL Realty Advisors, but the head office of the bank remains the anchor tenant.
On Wednesday, January 9, 2008, a portion of a CIBC sign at the top of the Commerce Court West building blew off as a result of wind gusts. Police cordoned off the area as a precaution. As a result, Bay St. from Front to Richmond and King St. from York to Yonge were shut down. Toronto Transit Commission
Toronto Transit Commission
-Island Ferry:The ferry service to the Toronto Islands was operated by the TTC from 1927 until 1962, when it was transferred to the Metro Parks and Culture department. Since 1998, the ferry service is run by Toronto Parks and Recreation.-Gray Coach:...
(TTC) service was diverted.
This took place eight months after a piece of white marble panel fell from the 60th storey of the First Canadian Place
First Canadian Place
First Canadian Place is a skyscraper in the financial district of Toronto, Ontario, Canada, at the northwest corner of King and Bay streets, and is the location of the Toronto headquarters of the Bank of Montreal. At , it is Canada's tallest skyscraper and the 15th tallest building in North America...
building, and ten months after layers of ice fell off the CN Tower
CN Tower
The CN Tower is a communications and observation tower in Downtown Toronto, Ontario, Canada. Standing tall, it was completed in 1976, becoming the world's tallest free-standing structure and world's tallest tower at the time. It held both records for 34 years until the completion of the Burj...
.
Anchor tenants
- Canadian Imperial Bank of CommerceCanadian Imperial Bank of CommerceThe Canadian Imperial Bank of Commerce is one of Canada's chartered banks, fifth largest by deposits. The bank is headquartered at Commerce Court in Toronto, Ontario. CIBC's Institution Number is 010, and its SWIFT code is CIBCCATT....
(CIBC) - Blake, Cassels & GraydonBlake, Cassels & GraydonBlake, Cassels & Graydon LLP – Blakes for short – is a Canadian-based international business law firm. It is one of the "seven sisters" in Toronto, Canada....
LLP - Barrick GoldBarrick GoldBarrick Gold Corporation is the largest pure gold mining company in the world, with its headquarters in Toronto, Ontario, Canada; and four regional business units located in Australia, Africa, North America and South America...
- Deloitte & Touche LLP
- Deutsche BankDeutsche BankDeutsche Bank AG is a global financial service company with its headquarters in Frankfurt, Germany. It employs more than 100,000 people in over 70 countries, and has a large presence in Europe, the Americas, Asia Pacific and the emerging markets...
- Guardian Capital GroupGuardian Capital GroupGuardian Capital Group , founded in 1962, operates several fully owned subsidiaries whose operations are to provide investment management services, financial advisory services, retail distribution of mutual funds, insurance, and general corporate services. Guardian Capital Group is headquartered in...
- Stikeman ElliottStikeman ElliottStikeman Elliott LLP is a Canadian corporate law firm. It is known as one of the "seven sisters" in Toronto and has approximately 500 lawyers in five Canadian offices as well as offices in New York, London , and Sydney. It was founded in 1952 by H...
LLP
Notable Tenants
- Canadian Bankers AssociationCanadian Bankers AssociationThe Canadian Bankers Association is a financial lobbying group that works on behalf of 52 domestic banks, foreign bank subsidiaries and foreign bank branches operating in Canada and their 267,000 employees. The CBA was organized in Montreal in 1891, making it one of Canada’s oldest interest...
- Consulate General of Mexico
- RicohRicohor Ricoh, is a Japanese company that was established in 1936 on February 6th, as , a company in the RIKEN zaibatsu. Its headquarters is located in Ricoh Building in Chūō, Tokyo....
- CIBC Wood GundyCIBC Wood GundyCIBC Wood Gundy is the is the Canadian retail brokerage division of CIBC World Markets, a division of the Canadian Imperial Bank of Commerce.CIBC Wood Gundy maintains a network of 1,400 brokers working in over 100 branches across Canada...
Commerce Court plaza
Surrounding the Commerce Court complex of buildings is a plaza featuring a fountain in its centre, and a three piece bronze sculpture by Derrick Stephan Hudson entitled, Tembo, Mother of Elephants completed in 2002. The sculptures were installed on site in 2005 on loan from the L.L. Odette Foundation of Windsor, OntarioWindsor, Ontario
Windsor is the southernmost city in Canada and is located in Southwestern Ontario at the western end of the heavily populated Quebec City – Windsor Corridor. It is within Essex County, Ontario, although administratively separated from the county government. Separated by the Detroit River, Windsor...
.
See also
- List of tallest buildings in Toronto
- Tour CIBCTour CIBCLa Tour CIBC is a forty-five-storey skyscraper in Montreal, Quebec. With the communications antenna on the roof, the total height is . The International Style office tower was built by Peter Dickinson, Ross, Fish, Duschenes and Barrett and was the city's tallest building from 1962 to 1963...
- Old Canadian Bank of Commerce Building, MontrealOld Canadian Bank of Commerce Building, MontrealThe Canadian Imperial Bank of Commerce Building is a building at 265 Saint-Jacques Street in Montreal, Quebec, Canada.-History:The building was erected in was built in 1906-1909...
- Commerce Place ICommerce Place ICommerce Place I, the first tower built in 1987 and part of a twin tower complex. The complex is known as Commerce Place. The second tower; Commerce Place II was built in 1990. The 16-storey twin towers stand at 81.0 meters. This makes Commerce Place the 7th tallest building complex in Hamilton,...
and Commerce Place IICommerce Place IICommerce Place II is a building in Hamilton, Ontario, Canada, the second tower built in 1990 and part of a twin tower complex. The complex is known as Commerce Place. The first tower; Commerce Place I was built in 1987. The 16-storey twin towers stand at 81.0 meters. This makes Commerce Place the...
in Hamilton, OntarioHamilton, OntarioHamilton is a port city in the Canadian province of Ontario. Conceived by George Hamilton when he purchased the Durand farm shortly after the War of 1812, Hamilton has become the centre of a densely populated and industrialized region at the west end of Lake Ontario known as the Golden Horseshoe...