Toronto Union Station Bus Terminal Mixed-Use Redevelopment

Deal value: $220,000,000

Ivanhoé Cambridge and Metrolinx completed the acquisition and redevelopment of the Union Station Bus Terminal, integrating 350,000 sq ft of office, 120,000 sq ft retail, and 250 residential units above the new multimodal transit hub.

The core investment motivation is to unlock the value of a prime downtown Toronto site by transforming an underutilized transportation hub into a vibrant, mixed-use development. The strategic purpose is to address acute urban needs—such as affordable housing, modern office space, and enhanced transit connectivity—while capitalizing on the site's central location and integration with major transit infrastructure. The timing is driven by policy momentum for urban intensification, public-private partnership opportunities, and the growing demand for sustainable, transit-oriented communities.