There’s nothing ordinary about a day at the office when you work at 302 Bay Street. iQ Offices’ latest location is a journey back in time, where the grandeur of a 108-year-old Art Deco landmark seamlessly blends with cutting-edge contemporary design – and no shortage of appreciated workday perks.
Last month, iQ Offices, the country’s largest Canadian coworking operator, officially launched its new 60,000 square foot flagship location in the heart of Toronto’s Financial District (302 Bay St.), transforming a stunning 14-storey heritage building – a Bank of Montreal branch in a previous life – into a next-generation workplace. “I’m a real estate guy,” says Kane Willmott, co-founder and CEO of iQ Offices, of the sprawling property. “This building came on the market for the first time and, as soon as we saw it, it was PATH-connected, beautifully historic, and on the corner of King and Bay – check, check, check.”
Redefining “business as usual,” the new flagship is the first hospitality-infused workspace created for Canada’s most progressive companies. Think: hotel-style service, designed for optimal business achievement. Here, a workday can include a cold plunge and sauna session, an afternoon game of billiards with coworkers, and a cocktail on a breezy, view-filled terrace. (If you’re now reevaluating your workplace, that’s understandable).
Amenities aside, it’s easy to get lost in the space’s design details. Architects Arcadis have created an inspiring backdrop that fosters both a sense of privilege and Toronto’s rich past. “We took everything right down to the studs and built it back up again,” says Willmott of the two-year construction project – one he calls an “ultra-marathon” due to its time-consuming complexity. “It was in good shape, considering it was over 100 years old. Everything is new – all of the HVAC, the electrical – with the exception of anything that’s historic; things like chandeliers, brass, wood, and marble. We had a company come in to tell us what’s historic,” he continues.
The meticulously restored heritage elements, from the ornate plaster ceilings of the former Grand Banking Hall to an ornate spiral staircase and elegant marble and brass details (like doors and railings) throughout, create an atmosphere of sophisticated charm – a far cry from a typical, somewhat sterile, coworking space. Perhaps that’s because it’s not a typical coworking space. You won’t find young freelancers or start-up dreamers typing away on personal laptops here. Instead, iQ Offices caters to established companies, from small and medium-sized organizations to those with billion-dollar valuations. It’s a curated environment for high-performing professionals, scaling teams, and design-conscious companies that demand more from where they work.
This means an amenity program that spans a total of four floors. With wellness front and centre, the iQ Flagship boasts a thermotherapy suite, complete with a large cedar sauna, two cold plunges, and dedicated showers with towel service. Meanwhile, a sleek games room features a convertible billiards table (which doubles as a boardroom table) and fully-staffed barista bar.
The space also boasts an abundance of breakout areas, swoon-worthy kitchens (with all the built-ins) on every floor, and nine bookable meeting rooms. Come happy hour time, either the rooftop terrace – which sits off a kitchen and offers sprawling south and west views of the Financial District – or the Grand Banking Hall (complete with its highly decorated plaster ceiling, ornate chandeliers, and tavernelle marble wall cladding) make the perfect spot to sip and swirl.
Practical amenities include custom soundproof phone booths, enterprise-grade internet connectivity, printing stations, and on-site support, all easily accessible through direct PATH access and an opulent member’s entrance off Bay Street. Other talking points include music in individual bathroom stalls (which turns on upon entry), complimentary snacks, massage chairs, and nine-foot glass throughout (the standard is eight feet).
As companies need less office space than they did pre-pandemic, some are opting for better, but smaller, spaces, notes Willmott. It comes down to the employee experience and meaningful engagement. “For the same cost, companies can either have a 15,000 square foot office in a B or C quality building, or a 7500 square foot office in a AAA or trophy asset,” says Willmott. This concentrates demand into the trophy assets. In a climate that’s become accustomed to remote and hybrid work, iQ Offices at 302 Bay Street provides flexible office solutions, from private offices accommodating teams of various sizes to customizable full-floor workspaces.
Kane highlights how, because many big companies lease office space that’s smaller than the number of employees they would need to accommodate, they’ll often host offsite and breakout events. Spaces at 302 Bay – like the stylish boardroom adjacent to the games room and bar – were designed with this in mind. “A lot of big companies like Shopify and Yelp are doing that now,” says Willmott. He also highlights how the sprawling amenity spaces are designed to accommodate different types of work styles – peaceful and quiet or lively with background noise.
As Kane stresses, companies now need to “earn the commute” of their employees, many of whom can perform perfectly fine remotely. And this stunning space does just that, as it leads a new era of style-meets-substance workplace culture in Canada.
