TORONTO — The landmark Canadian Pacific Building, once the headquarters of what was billed as “The World’s Greatest Transportation System” and the tallest building in Canada upon its completion in 1913, could be converted to residences under a plan filed with the City of Toronto by the current owners.
The website Daily Hive reports that H&R Development, which bought the building from CP in 1988, would convert the office space on floors 2-15 into 67 one- and two-bedroom residential units. The ground floor — once a CP ticket office and currently a drug store — would remain unchanged, while the currently unused basement would become a restaurant.
The building at 69 Yonge Street received historic status in 1990 under the Ontario Heritage Act, so its exterior cannot be changed. But the inside can be modified. Toronto’s City Council will have to approve the project before construction can begin.
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