Iconic Toronto building has gained new owner after being vacant for almost 20 years

Iconic Toronto building has gained new owner after being vacant for almost 20 years

A milestone in the Toronto building on Yonge Street, modeled after the Roman Pantheon, has been given a new owner after sitting unused for nearly 20 years.

The building, known as The Bank of Toronto at 205 Yonge Street, is a historic landmark designed by prominent Toronto architect EJ Lennox. Lennox also designed Casa Loma and Toronto’s Old Town Hall. The four-story building was erected in 1905 for the Bank of Toronto (Toronto Dominion Bank in 1955).

The building at 205 Yonge Street has been empty for almost 20 years.

The neoclassical design is modeled after the Pantheon in Rome with a domed roof, terrazzo floors, marble walls and striking Corinthian columns facing Yonge Street.

205 yonge street

Inside the building has marble floors and several columns.

The building has stood empty for about 20 years, and although it has been on the market, it never sold due to conflicts with the previous owners, says Mark Goldberg of Highbury Asset Management.

205 yonge street

It was originally used as a bank and is built with lavish features.

It went into receipt in 2021 and has just been purchased by a private owner who does not want to be named, Goldberg says.

Now the building is rented out and luckily the current owner has no plans to create an apartment out of it, he says.

“We have no plans to knock it down, convert it or add it.”

205 yonge street

The bank vaults are still in the building.

The ideal application would be a bank.

“All the vaults, the original vaults are still there,” Goldberg says.

Other uses could be a wine bar, dinner club or restaurant on a level with office space on the upper floors.

205 yonge street

The upper floors need work, but the view would be great.

Regardless of usage, it will be nice to walk into the halls with this historic beauty again after it has been vacant for so long.

“We want to bring this building back to life. We are looking for something that will take advantage of this historic, iconic character of this building.”


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