Science Fair Project Encyclopedia
Bay Street is a street in downtown Toronto, Ontario, Canada. It is the centre of Toronto's financial district and is often used as a synonym for Canada's financial industry just as Wall Street is used in the United States. It was named for the Hudson's Bay Company, Canada's first, and once biggest, corporation.
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 were renamed Bay Street as several other streets were consolidated and several gaps filled in to create a new thoroughfare in the 1920s or 1930s. The largest of these streets, Terauley Street, ran from Queen Street West to Grenville Street , and was longer than Bay Street as it existed at the time of its consolidation.
Bay Street is home to numerous corporate headquarters, high-powered legal firms, insurance companies and stock brokers. In turn, the presence of so many decision-makers has brought in advertising agencies and marketing companies. The banks have built large office towers, much of whose space is leased to these companies. The bank towers, and much else in Toronto's core, are connected by a system of underground walkways, known as PATH, which is lined with retail establishments making the area one of the most important shopping districts in Toronto. The vast majority of these stores are only open during weekdays when the financial district is populated. During the weekend, the walkways remain open but the area is deserted and the stores are closed.
It is estimated that 100,000 commuters enter and leave the financial district each working day. Transportation links are centred on Toronto's Union Station at the south end of the financial district. Union Station is the hub of the GO Transit system that provides rail and bus links to Toronto's suburbs. The intersection of Bay and Bloor is the location of the TTC's Bay subway station.
Attractions along Bay Street:
- Design Exchange - former home of the Toronto Stock Exchange
- Toronto City Hall
- Old City Hall - now provincial court house
- City Hall Centoaph
- Bay Queen Street
- Toronto Island Ferry Docks
- Union Station
- Commerce Court - CIBC headquarters
- First Canada Place - BMO headquarters
- Royal Bank Plaza - RBC headquarters
- Toronto Bus Terminals
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