[3] The Park Plaza was expanded in 1956 with a second annex tower directly to the north, a modernist structure designed by Peter Dickinson.

Located across the street from the University of Toronto the hotel became known as a centre for Canadian literature, attracting authors, especially to the rooftop patio.

As a result, the hotel has appeared in works by a number of Canadian writers including Margaret Atwood, Morley Callaghan, Mordecai Richler, and Hugh Garner.

[4] In 1995, the hotel went into receivership, but was purchased by new owners who began a complete overhaul, adding such features as an almost 2,000-square-foot (190 m2) penthouse, to woo back the wealthiest guests.

The 1936 south tower was converted to 65 luxury rental units, marketed as Two Avenue Road, but still operated as part of the hotel complex.