The Centre was built on land formerly occupied by a series of commercial buildings, including the Canadian Consolidated Rubber Company, and previously it was the site of the Great Western Railway Terminal (later the Toronto Wholesale Fruit Market).

[7] The idea for a performing arts centre that could serve the needs of an increasingly dynamic city predates the building's opening by almost 20 years.

Taylor, the racehorse-loving head of Canadian Breweries, which owned O'Keefe Brewing, offered in early 1955 to build a performing arts centre that would not only serve the needs of local institutions but increase the diversity of entertainment options available in Toronto.

Camelot was followed by musical productions featuring such artists as Ethel Merman, Mickey Rooney, Angela Lansbury, Alfred Drake, Yul Brynner, Carol Channing, Pearl Bailey, Katharine Hepburn and Rudolf Nureyev.

[10] Other artists who have performed on the arts venue's stage in a range of solo shows, revues and jazz spectaculars include: Louis Armstrong, Duke Ellington, Marlene Dietrich, Diana Ross, Anne Murray, Tom Jones, Danny Kaye, Judy Garland, Sammy Davis Jr., Bill Cosby, Jack Benny, Liza Minnelli and Liberace.[when?]

It was during a 1974 Bolshoi visit that a young Mikhail Baryshnikov defected from the Soviet Union by escaping the venue into a waiting getaway car, aided by later Jim Peterson PC and businessman Tim Stewart.

Notable performances that reflect this mandate include The Last Empress (a Korean historical musical), the Virsky Ukrainian Dance Company, South Africa's Soweto Gospel Choir, The Shaolin Warriors, Ricky Cheng, David Rudder & Friends and Club Tropicana.

[citation needed] In 2006, the performing arts venue received approval from the City of Toronto for the development of a high-rise condominium building beside the Centre.

In addition to the structure, the performing arts venue's auditorium houses an acoustic system, which gives the audience the sense that the sound is surrounding them.

Materials used include: Alabama limestone, glazing, granite, copper, bronze, Carrara marble, carpet, cherry plywood panels and Brazilian rosewood.