iQ Office Suites launches firm’s second Toronto location – in historic Bank of Canada Building on University Avenue

Based on the increased demand for flexible workspaces that inspire creativity, encourage collaboration and meet the needs of a rapidly changing mobile workforce and entrepreneurial economy, iQ Office Suites is opening its second shared office location – at 250 University Ave. in Toronto’s vibrant downtown district.

Opening in early February, the new, purpose-built workspace in the former Bank of Canada Building underscores the growing demand for new and inspiring forms of commercial work environments. It also demonstrates the emergence of technology-centric offices that are accessible, cost-effective and scalable for use by larger companies looking to house employees in prime workspaces, and by smaller companies and startups seeking access to all the amenities of a full-service office environment. In line with iQ’s commitment to historic locations and top-tier amenities, the University Avenue location features private offices, pods, dedicated desks and a 4,500-square-foot iQ members’ lounge housed in the former Central Bank’s bullion vault.

Specializing in state-of-the-art, shared work environments, iQ Office Suites was founded in 2012 when the company the launched its first, historic Dineen Building location at 140 Yonge St., in the heart of Toronto’s financial district.

“With the rise of a mobile workforce and increasing prime real estate costs in Toronto, business owners and entrepreneurs are seeking affordable and adaptable office spaces that provide stellar amenities, opportunities to connect with like-minded individuals and access to a host of on-premise services so they can spend more time networking and growing their businesses,” says Alex Sharpe, co-Founder of iQ Office Suites. “We provide iQ members with the critical business infrastructure they need so they can set up and be fully operational within hours. And with flexible terms catered to the individual company’s needs, we empower our members to focus on what’s most important to them – their business.”

According to PwC and the Urban Land Institute’s Emerging Trends in Real Estate 2015 report, Toronto has seen an “ongoing migration of people and businesses back to the (urban) core” with office tenants demanding new amenities, workspace configurations and features “to attract and retain today’s talent.”

That talent, whether at a startup, self-employed, or part of a large organization, is likely to require flexible, affordable work spaces. In fact, a recent study by Wix and Officevibe noted that by 2020, nearly 40 per cent of workers will be independent contractors, freelancers, solo entrepreneurs or temporary employees.

Anticipating this need, iQ co-Founder Kane Willmott believes “the opening of our second location further fuels established organizations, service providers and independent workers to expand into new markets and grow their organizations. It also embodies our company vision of creating inspiring, high-quality, modern workspaces equipped with luxurious on-site amenities to create a setting that fosters real motivation for our members to enjoy their daily work environment.”

Unlike traditional office-lease arrangements, iQ shared spaces eliminate the burden of time-consuming and costly infrastructure investments and set-up, and are available on flexible terms with a variety of configuration options. Companies that move into iQ shared office spaces are able to grow and adapt affordably, surrounded by prestigious services and amenities, including access to a growing list of member privileges.
Both of the iQ buildings in Toronto feature work spaces that can be personalized by iQ members, as well as a full complement of amenities that include meeting and conference rooms; fully secure Internet and Wi-Fi connectivity; 24/7 accessibility; building and technology security; printing and communications services; high-definition video conference capabilities; and more. Both iQ workspaces are located near public transportation, restaurants and hotels, and the iQ Lounges (in both locations) are available for meetings and event


iQ Office Suites Inc. is the leading provider of shared office space in downtown Toronto for companies interested in luxurious, scalable and feature-rich commercial space tailored for the modern, mobile-powered organization. Founded in 2012, iQ offers shared workspaces at two downtown Toronto locations: 140 Yonge St. (the historic Dineen Building) and 250 University Ave. (the former Bank of Canada building). Co-Founders Alex Sharpe and Kane Willmott specialize in the creation of unique and inspiring flexible workspaces that are supported by state-of-the-art office technologies, services and amenities.

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