The outer facade is steel and glass in the internationalist style.

The original 1884 building, designed by architect Charles A. Walton, is considered to be Canada's first indoor shopping mall, or arcade.

[2] By the 1950s, the building showed its age and the small shops and offices were considered outdated.

In January 1954, businesses were given one-month notices to vacate and the building was demolished later that year.

[1] The location was previously the site of the Bay Horse Hotel.