A co-working company will open new workspaces in a 107-year-old downtown Toronto heritage building this fall.

Built in 1917, the property is located at 302 Bay Street in the heart of the city’s financial district. The building secured its heritage designation in 1976.

The workspaces will be owned and operated by Toronto-based iQ Offices.

“For more than a century, 302 Bay has featured prominently in the core of Toronto’s global business hub – it has housed generations of teams, talent and ideas that effect change,” said Kane Willmott, the company’s co-founder and CEO, in a news release.

Willmott added that iQ’s reimagination of the full building will answer the call for what Canada’s top talent is looking for in its next office.

The company said it is “refining” all 14 floors with “thoughtfully designed workspaces” and a rooftop terrace with exceptional city views. The building will feature such amenities as a games room, wellness rooms, and a hotel-inspired ground floor lobby bar and lounge area.

Large- and small-format meeting rooms with video conferencing technology will also be available, along with personal phone booths located throughout the building.

Private offices will be offered on floors four through 14. Dutch architectural design firm Arcadis and Toronto-based ERA Architects are partnering with iQ on the renovation project.

With several Canadian office landlords grappling with high vacancy, iQ is out to prove that the sector is not dead

“Today’s professional expects and deserves more from their workspace. Employers must curate workspaces that earn the commute of their teams, and that provide strong returns on office spend,” said Willmott.

“Our philosophy is that the modern office doesn’t need to be renovated, it must be revolutionized. With this outlook, we’re setting a new standard for what office culture can be.”

The Toronto project will become iQ’s eighth location. The company currently operates seven co-working locations in Vancouver, Toronto, Ottawa and Montreal.

Photo: Businesswire