Built in 1905 as the Canadian Bank of Commerce’s Queen-Yonge branch, 197 Yonge Street is now part of the modern Massey Tower. Designed by Darling & Pearson in the Classical style with Beaux-Arts influences, the building is considered one of their standout works. After the bank closed in 1987, the building was left vacant for over 20 years.
 
In 2012, the site, including the land next door where the famous Colonial Tavern once stood, was transformed into a mixed-use tower. The Tavern, a hotspot for jazz legends like Benny Goodman and Miles Davis, had been demolished years earlier, leaving an empty lot.
 
The renovation kept the historic bank building at the heart of the project, preserving its prominent spot on Yonge Street while a modern tower was built behind it. A glass pavilion was added between the two, blending the past and present. The project, completed in 2019, was named “The Massey Tower” to honor the Massey family’s important role in shaping Toronto’s cultural scene.