The Permanent:
A Historic Skyscraper Gets a Modern Makeover

Vintage Skyscraper Reborn: Major Restoration Brings Toronto's Financial District Back to Life

The Permanent: <br>A Historic Skyscraper Gets a Modern Makeover

Provive + Menkes

“Bringing a Depression-Era Icon into the 21st Century: The Canada Permanent Trust Building’s Restoration and Modernization”


Project Start Date


Project End Date


Restoration Savings vs. Replacement Costs.

The Permanent

The Challenge

Built in 1931, The Canada Permanent Trust Building, a 18-storey Art Deco office tower located at 320 Bay Street in Toronto’s Financial District, was in need of a major restoration and modernization to bring it up to Class A office standards.

Peter Menkes, president of Menkes Developments:

“We think this development will have a unique place in the market, as there is nothing like it in the core right now,” “It will offer a cutting edge work environment, redesigned to meet the growing demand for creative office space in Toronto, and will allow companies to occupy a historical, landmark property.”

Building Assets Restored


Brass Entrance Windows & Doors


Brass Entrance, Lobby, Elevators


Bank Vault, Mail Slots

The Solution

Menkes Developments and Greystone Asset Management purchased the building in early 2019 and embarked on a year-and-a-half-long restoration project.

The exterior of the building was restored of decades of grime and dirt, and the office space was modernized. The mechanical and electrical systems were also upgraded.

Menkes enlisted The Provive Group to modernize and take care to preserve the heritage details of the building.

The renovations will improve the quality and service of the space, while preserving its history and architectural elements.

~ Menkes

The Result

The before and after is a sight to behold! The now-cleaned brass entranceway is restored back to its former glory, as if it would have appeared in the Depression-era it was constructed. The building’s heritage details have been preserved, including a marble banking hall.

The building, now rebranded as The Permanent, began welcoming new tenants in the second quarter of 2021, with construction continuing on the project.

In The Press


Construction Canada