Bay Street: Wikis

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Bay Street Sign.PNG
The intersection of Bay Street with King Street is the financial heartland of Canada.
Street signs at the intersection of Bay and Queen Street West.

Bay Street is a street 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 industry just as Wall Street is used in the United States and The City in the United Kingdom. This is a rather recent development (1970s), as this position used to be held by St. James Street, in Montreal. Within the legal profession, the term Bay Street is also used colloquially to refer to the large, full-service business law firms of Toronto, particularly the top-tier law firms known as the Seven Sisters. The name of the street originated in 1797 from the fact that it connected (then) Lot Street (now Queen Street West) to a bay in Toronto Harbour. It was originally called Terauley Street (from Queen Street to Grenville Street) and renamed in the 1920s.

Bay Street stretches from Queens Quay (Toronto Harbour) in the south to Davenport Road in the north. The original section of Bay Street ran only as far north as Queen Street West. 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 Grenville Street. At these two points, there is a curve in Bay Street.

Contents

Bay and King

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, CIBC at Commerce Court, and Toronto-Dominion Bank at the Toronto Dominion Centre. Historically, this was known as the "MINT Corner" (Montreal, Imperial, Nova Scotia, Toronto-Dominion) but since 1962 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 creeped north with the addition of the 50-storey Bay Adelaide Centre and the Trump Tower Toronto, which is currently under construction.

In the 19th century this intersection was home to Toronto's major newspapers. The The Mail Building, the Old Toronto Star Building, and the Old Globe and Mail Building were all located near the intersection.

Bay Street Corridor

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. A small portion of this stretch of Bay Street is serviced by the TTC streetcar between Dundas and College Street.

The area attracts many who work in the financial district as well as those who work in the Discovery District, nearby hospitals and schools (Ryerson University and the University of Toronto). More than 67% (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%.[1]

Notable buildings along this stretch include:

Northern Bay

Another prominent intersection is the one nearest Yorkville at Bay and Bloor, the centre of an upscale and expensive shopping district.

The intersection of Bay and Bloor is the location of the Toronto Transit Commission's Bay subway station. Bay Street is served by the route 6 Bay bus, which is one of the few downtown bus routes. The street was originally served by streetcars, however the opening of the north-south Yonge Subway in 1954 caused a number of parallel streetcar routes to be replaced by buses, including Bay.

References

  1. ^ Gender and Age
  • Wise, Leonard and Gould, Allan, Toronto Street Names (Toronto: Firefly Books, 2000) - ISBN 1552093867

External links

Coordinates: 43°39′26″N 79°23′03″W / 43.657291°N 79.384302°W / 43.657291; -79.384302

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Wiktionary

Up to date as of January 15, 2010

Definition from Wiktionary, a free dictionary

Contents

English

Proper noun

Singular
Bay Street

Plural
-

Bay Street

  1. (in Canada) A street in Toronto where many banks and other financial institutions are based.
  2. (Canadian, by analogy) Financial interests in Canada, especially in Toronto.

See also

Anagrams


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