The building is designated under Part IV of the Ontario Heritage Act since November 26, 1975.

[2] Per the official designation: "The Canada Permanent Trust Building, 320 Bay Street at Adelaide Street West (SW), 1929–30 by F. Hilton Wilkes & Mackenzie Waters; Mathers & Haldenby, Associates.

Designed using the simplified classical forms of the Style Moderne, it combines an emphasis on its vertical height appropriate to its basic form, with the impressive vaulted banking hall, characteristic of bank buildings at the beginning of the Century.

"[3] The Canada Permanent Trust building was purchased in January 2019 by Menkes Developments Ltd. and TD Greystone Asset Management.

This includes repurposing of the street level of the building, electrical and mechanical upgrades, as well as improving "the quality and service of the space, while preserving its history and architectural elements" including enhancements to the late 1920s façade.