The Bank of Montreal is transforming a four-storey space at CF Toronto Eaton Centre into a high-tech urban campus that will also repurpose part of the old Sears Canada store.

Said to be one of the bank’s most significant workplace design projects since First Canadian Place broke ground 40 years ago, BMO hopes to attract top talent when the space opens in 2021.

Darryl White, CEO of BMO Financial Group, said the campus is “central to the business transformation underway at BMO,” while the First Canadian Place headquarters will be maintained with an extended lease for another 15 years.

Overlooking Yonge-Dundas Square, the new 350,000 square foot location will help meet demands of both customers and a growing mobile workforce, with advanced digital technology, collaborative work areas and easy underground PATH access to public transit and a variety of amenities.

“This step we are taking is all about our customers because ultimately, it is they who lead our bank,” said White. “We’re positioning the bank to be at the forefront of change and lead the industry. This new workplace will be a centerpiece for how we drive value.”

Cadillac Fairview is collaborating with BMO on the workspace.

“With CF Toronto Eaton Centre as its home, BMO’s urban campus will stand out as a vibrant environment to stimulate bold ideas, foster new ways of working, and ultimately attract the best talent,” said John Sullivan, president and CEO, Cadillac Fairview.