After more than 100 years in Mimico the Bank of Montreal closed its branch at 2448 Lake Shore Blvd West on March 22, 2019. The Bank of Montreal claimed that it was the first chartered bank to open in the Town of Mimico but the Union Bank of Canada beat it by 6 years when it opened its branch at present day 34 Cavell Avenue (then Southampton Street) in 1910. The Bank of Montreal didn't establish itself in Mimico until 1916 in a former butcher shop on the Lakeshore Road.
In 1923 the bank acquired the landmark site at the corner of Mimico Avenue and the Lakeshore Road when it merged with the Merchant Bank of Canada who purchased the vacant lot in 1920 but had not yet built on it. In 1923 the Bank of Montreal commenced construction of a purpose built branch on the property. The building was designed by Ralph K. Shepard (1874-1933), a prominent architect, whose list of works includes the University Club of Toronto the Temple Building, and many other bank buildings.
The building was reviewed as part of the “Mimico 20/20 Revitalization Cultural Heritage Resource Assessment” completed by URS for the City of Toronto's Heritage Preservation Services in 2012. The report provided the following description for the building:
"Early 20th century commercial building of good design, significant siting, makes a solid contribution to the character of the street and reflects the most significant phase of commercial development in Mimico for the past century. Two storey brick structure with stone or concrete string courses and sills, pressed metal cornice, classical portico around main entrance may be later addition." (note that a 1924 photo of the bank indicates that the classical portico was part of the original 1924 design)
Though this bank is now closed the building is a significant building in the Town of Mimico anchoring the corner of Mimico Avenue and Lake Shore Blvd West. The building was a landmark in Mimico upon its construction in 1924 and remains a landmark building to this day.
Having been identified in the Mimico 20/20 Revitalization Cultural Heritage Resource Assessment study as worthy of "further study and evaluation as a potential Built Heritage Resource" I submitted a request in November 2018 to designate the building under the Ontario Heritage Act to Heritage Preservation Services at the City of Toronto. The request remains in the queue but hopefully this significant landmark building will continue to grace this corner, and delight the eyes, for many years to come.
Update October 6, 2021
Today the Toronto Preservation Board recommended that the property be listed under the Ontario Heritage Act. Hopefully full designation under the Act will be forthcoming soon.
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