The Museum of Toronto will establish its first permanent home in a former Bank of Montreal space at 2 Queen Street East, bringing a new cultural destination to one of downtown Toronto’s busiest commercial intersections.
Set to open in April 2027, the museum will feature four exhibition galleries, immersive programming and public art installations in a historic property at Yonge and Queen streets, steps from CF Toronto Eaton Centre.
The project is supported by a $35 million gift from philanthropists Diane Blake and Stephen Smith, whose contributions to the organization now exceed $50 million since its founding in 2014.
The new museum will offer 5,246 square feet of gallery space, with free admission for visitors. Its prominent location places it within Toronto’s downtown retail core, where shopping, dining, entertainment and cultural attractions contribute to the area’s appeal.
Historic Bank Space Finds New Purpose
The museum’s future home has a history closely connected to Toronto’s commercial development. The property incorporates a former Bank of Montreal building dating to the early 20th century. Its historic façades were retained when the site was incorporated into the larger Maritime Life Building redevelopment, completed in the early 2000s.
The latest conversion will see former banking space adapted for exhibitions and public programming, maintaining a connection to the property’s commercial past while introducing a new use.
Toronto-based architecture firm Superkül is leading the design and conceptualization of the adaptive reuse. Construction is being undertaken by mform, with project management by Avison Young. Bruce Mau Design is developing the museum’s new visual identity.
Meg Graham, partner at Superkül, said the design will emphasize the relationship between the museum and the surrounding city.
“From the Museum’s open, street-level galleries to its flexible spaces for immersive programming, the design will reflect those qualities and give artists, storytellers, and curators a dynamic platform to bring Toronto’s histories to life,” said Graham.
The project will bring a publicly accessible cultural use to a property that has served commercial purposes for more than a century.
Four Galleries and Immersive Exhibitions
The new museum will include four exhibition galleries totalling 5,246 square feet, with a stated capacity of 150 people. Visitors will encounter immersive experiences, a public art installation and an Indigenous welcome sound installation. Admission will be free, with donations encouraged.
The museum’s inaugural permanent exhibition, This Toronto of Ours: A City in Six Parts, will explore Toronto’s history through the stories, experiences and perspectives of the people who have shaped the city.
Its first temporary exhibition, Lights, Camera, T.O.: Toronto on Film, will examine Toronto’s role in film and production, highlighting the people and stories that have contributed to its on-screen identity.
Temporary exhibitions are expected to rotate annually, giving visitors opportunities to return for new programming.
According to the museum’s fact sheet, operating hours will be Wednesday through Friday from noon to 6 p.m. and Saturday from 10 a.m. to 6 p.m. The museum will be closed Sunday through Tuesday.
New Cultural Destination for Downtown Toronto’s Retail Core
The museum’s arrival will introduce another reason to visit the Yonge and Queen area, already home to one of Canada’s most concentrated shopping and commercial districts.
The property sits immediately east of Yonge Street, near CF Toronto Eaton Centre, Queen subway station and a substantial concentration of retailers, restaurants, offices and entertainment venues.
Downtown Yonge BIA research has identified approximately 70 million annual pedestrian movements across the broader district, which contains more than three million square feet of retail space.
The museum will add a different type of visitor experience to an area traditionally associated with shopping, dining and commercial activity. Its free-admission model could also encourage visits from people already spending time downtown.
For surrounding businesses, the potential benefit lies in attracting visitors who may combine a museum visit with shopping, dining or other activities. The museum has not announced attendance projections or estimated its potential impact on nearby retailers.
The opening also comes as Toronto continues planning improvements to the downtown Yonge Street corridor through the yongeTOmorrow initiative, aimed at enhancing pedestrian space and the public realm. Those improvements remain on a longer-term schedule and are not tied to the museum’s opening.
The conversion of the former bank space illustrates how established downtown commercial properties can accommodate new uses as the surrounding district evolves.
A Permanent Home After More Than a Decade
Founded in 2014, the Museum of Toronto began as a charitable organization dedicated to sharing the city’s history through the people and communities that have shaped it.
Initially operating as a museum without walls, the organization developed exhibitions, public programming, community partnerships and digital storytelling initiatives across Toronto.
It currently operates an exhibition space at 401 Richmond Street West, a downtown property known for its concentration of artists, galleries and cultural organizations.
The move to Queen Street will provide the museum with its first permanent, purpose-designed home and a more visible presence in the city’s commercial centre.
Heidi Reitmaier, CEO of the Museum of Toronto, said the announcement represents an important step in the organization’s development.
“For over a decade, we’ve worked with experts and communities across the city to tell Toronto’s stories in ways that reflect the diversity and complexity of our city,” said Reitmaier.
“This transformational gift allows us to take the next step, to create a permanent home where our history can be shared, experienced, and questioned.”
The museum has also formalized an alliance with the City of Toronto to explore programming collaborations and potential partnerships.
Pat Tobin, general manager of the city’s Economic Development and Culture Division, welcomed the project as an addition to Toronto’s cultural infrastructure and a free gathering space for residents and visitors.
$35 Million Gift Supports Museum’s Future
The $35 million gift from Diane Blake and Stephen Smith provides substantial financial support as the museum prepares to establish its permanent home.
The philanthropists have supported the institution since its founding, with their combined contributions now exceeding $50 million.
The museum has also identified an additional $10 million fundraising goal and is seeking support from individuals, foundations, businesses and governments to advance its longer-term ambitions.
The contribution is described as a transformational gift supporting the museum’s development, rather than a specific construction budget for the Queen Street conversion.
Blake said the investment reflects a long-standing belief that Toronto needs a permanent institution dedicated to its own history.
“Toronto is one of the most dynamic cities in the world, yet we never created the space to fully tell and celebrate our own history,” said Blake.
“We believe deeply in Museum of Toronto’s vision and in the importance of building a lasting cultural institution that reflects this city. This is about creating something enduring that will serve Toronto for generations to come.”
