Inspirational Art Opportunities:

1. From Mundane Electrical Boxes to Vibrant Icons

2. Culturally Iconic Mural

DEADLINE: Monday, September 2, 2024 @11:59pm EST

INVITATION

The Yonge + St. Clair Business Improvement Area [BIA] has been granted an exceptional opportunity to utilize funding from the City of Toronto to seek strategies to bring more people to the area via public street art and beautification projects. This initiative acknowledges the current steadfast densification creating neighbourhood identity obstacles across the area and seeks urban resilience for local people & businesses through a cohesive, vibrant aesthetic and character. We are calling on all motivated artists to submit budgeted mural design proposals for one or both of the following sites within the Yonge + St. Clair BIA:

Opportunity 1

• Two (2) side-by-side electrical boxes located in front of a school along calm, lush Ferndale Ave.

Opportunity 2

• One (1) partially protruding brick wall located along iconic St. Clair Ave. near Yonge St.

Please note these are two separate submissions.

BACKGROUND

The Yonge + St. Clair BIA was founded in 2018 to strengthen the economic health and livability of the neighborhood through strategic investments in the public realm, cultural programming, brand awareness, and advocacy. Our mission is to be a local economic growth accelerator that attracts new businesses, grows existing businesses, creates an enjoyable public realm experience, and generates visitor demand.

The immensely diverse area around Yonge + St. Clair is perched atop a hill and is characterized by the nearby ravine and pockets of green space. Commercial towers form the backbone along both Yonge St. and St. Clair Ave. Popular lunch spots, numerous schools, a public library, and residential buildings round out the programming. The area is well connected through public transit and contains numerous large-scale murals and sculptures to add character. With a wave of development coming in, we must ask, what does it take for the Yonge + St. Clair area to be a neighbourhood?

The areas of focus for these two projects are:

1. Nature: highlight the natural components of the area [electrical boxes]
2. Identity: uncover and display our neighbourhood’s character [brick wall mural]

Please reference the following projects as precedents for local artwork: #WaterfallYSC [Studio F Minus] // Inside Out Art installation [Rich Schutte & Jacqueline Vandervaart] // Untitled Mural – 2016 [Phlegm] // Deer Park Mural – 2019 [BirdO + Slate] // Toronto Island Sunset Mural [Leyland Adams Art] // Midtown Vibrance Mural [Leyland Adams Art]

OBJECTIVES

• Showcase refined and modern art that reflects a local legacy & urban evolution.
• Enhance visual appeal of the Yonge + St. Clair neighbourhood to increase foot traffic.
• Reflect the diversity of not only the people, but their businesses.
• Uncover the past, acknowledge & cherish the present, aspire for future advancements.

SCOPE OF WORK

You shall act as the project manager, advisor, and planner referencing our Strategic Plan and Streetscape Master Plan as a guide to better understand the full breadth of the area [history, diversity, culture, layout, building forms & typologies, etc.]. For opportunity (1) [mural on electrical boxes], we will grant you no more than $3,000 [total for the two electrical boxes] to beautify these typically mundane objects. For opportunity (2) [mural on a brick wall], we will grant you no more than $5,000 to create an iconic mural. Each proposal must include an executive summary, artistic concepts, artistic profile, images of previous work, and detailed budget and timeline. Please note that Yonge + St. Clair BIA will assume responsibility for cleaning and removing graffiti / postering for the two electrical boxes and brick wall prior to the initiation of the project.

STAKEHOLDER ENGAGEMENT

There will be a jury composed of members of the Yonge + St. Clair BIA to award the winning mural design. We expect your work to provide a true demonstration of our identity through in-depth research and analysis of local businesses, residents, and surrounding context.

CONSIDERATIONS FOR ARTWORK

Disclaimer: Artists must be aware and assume the risk that their artwork may be subject to damage by the elements or public.

Materials: The $3,000 and $5,000 budgets are all-inclusive. Please keep in mind costs of items such as primer.

Artwork Goals: opportunity (1) [electrical boxes] – create one design proposal that is vibrant, relevant, and cohesive across both electrical boxes; opportunity (2) [brick wall] – create one design proposal that acts as an all-encompassing depiction of the iconic Yonge + St. Clair neighbourhood.

Design Approach: Please ensure each design is a painting [not wrap or poster/billboard] with no extruding elements and can be engaged with from all angles. Consider the goal of ensuring there will be no graffiti or posters on top of your work. Any form of advertising is not permitted.

Theme: Opportunity (1) [electrical boxes] “Depict nature in reference to geographical, historical, & cultural context”; Opportunity (2) [brick wall] “Display the culture of Yonge + St. Clair in relation to the past, present, and future.” For both themes, we still expect your own creative interpretation and unique style to be at the forefront of the design.

DELIVERABLES

Executive Summary [1 page maximum]: provide a brief description of your proposition in relation to the context [Yonge + St. Clair neighbourhood] demonstrating how your vision aligns with our philosophy and theme.
Artistic Concept [4 pages maximum]: design proposals [images, descriptions, precedents, colour schemes, and/or themes] for each of the two electrical boxes and/or brick wall.
Artist Profile & Previous Work [2 page maximum]: provide an artist’s CV and images of previous work.
Detailed Budget & Timeline [1 page maximum]: detailed budget [not exceeding $3,000 & $5,000 respectively] and schedule outlining design / materials / prep / install phases & timeline.

TIMELINE [Opportunity 1 + 2]

• Monday, September 2, 2024 @11:59pm: proposals due.
• Friday, September 6, 2024: artists selected, and contracts awarded by Yonge + St. Clair BIA.
• September – October 31, 2024: installation period.

HOW TO SUBMIT / QUESTIONS
Please note these are separate proposals. Submit each proposal as a single PDF electronically to jason@yongestclair.ca with the following subject line: For the opportunity (1) title: “RFP – Street Mural Projects 2024 – Electrical Boxes [Your Name]”. For the opportunity (2) title: “RFP – Street Mural Projects 2024 – Brick Wall [Your Name]”. Please also direct any questions to jason@yongestclair.ca.

The deadline for all submissions is 11:59PM EST on Monday, September 2nd, 2024.

You can view a PDF copy of this RFP at this link.

Electrical Box & Brick Wall Locations
Dimensions provided are approximate and follow the format of Width x Depth x Height in inches [electrical boxes] and feet [brick wall]. Locations are designated by nearby intersecting streets and are shown on the corresponding map. Please note, only the bricks [not the bottom right portion where there are pipes] can be painted on for the wall. All faces of the electrical boxes are to be painted on.

The Yonge + St. Clair Business Improvement Area (BIA) is inviting applications by interested BIA members to fill vacant Board of Management positions!

Board Members are critical parts of our organization’s success and oversee and manage the BIA’s annual levy and service delivery. You’ll play a key role in supporting our neighbourhood alongside a diverse group of local business owners, property owners, and tenants.

Applicants must be business tenant or the owner of a commercial property within the Yonge + St. Clair BIA boundaries.

A description of a BIA Board Member’s board responsibilities and expectations is provided below.

Interested applicants: please send an email including your name, the company/property you represent in the BIA, a little information about yourself, and why you want to get involved with the BIA to info@yongestlclair.ca

BIA BOARD OF MANAGEMENT – ROLE OVERVIEW

Commitments
– Volunteer position
– Attend monthly Board Meetings, approximately 1 hour in length
– Approximately 2 – 4 hours of additional time commitment per month
– Be available for occasional communications with BIA staff

Responsibilities
– Act on the behalf of the Yonge + St. Clair BIA and our membership though strategic decision-making with your fellow Board Members at Board Meetings
– Support BIA organizational operations and service delivery
– Provide oversight and accountability on behalf of the BIA membership
– Review monthly Board packages prepared by BIA Staff which include information relevant for decision-making
– Support BIA staff with leadership and insight

Applicable Skills / Assets
– Leadership
– Strategic thinking
– Communication
– People management
– Legal / Risk management
– Knowledge of the Yonge + St. Clair Community

The BIA is currently hiring! See below for available opportunities and more information on how to apply.

Part-time Clean Streets Ambassador
Deadline: September 24, 2021
Job Description

How to apply
Submit a resume to info@yongestclair.ca no later than 5:00pm EST on September 24, 2021

While we appreciate all applications, only selected candidates will be contacted.
No phone calls please.

It can be tough to maintain a work/life balance that includes living healthy and exercising. Luckily Yonge + St. Clair offers a wide variety of traditional and contemporary workout options for the energetic nine to fiver.

Whether you prefer a gym-based workout or something less traditional, the Yonge + St. Clair fitness community offers plenty of options to help you strike the right balance between workout and play.

Balance Fitness – 52 St. Clair Ave E – (416) 225 2623

A Yonge + St. Clair staple since 2001, Balance Fitness combines “health and fitness in a soul-soothing, spa-like atmosphere.” Balance seeks to get their clientele into a state of healthy wellbeing through a unique four-part approach. Along with personal training, Balance’s schedule also offers after work programs like kickboxing; power pilates, and foundation training to help stabilize your back. They consider all aspects of their clients’ lifestyle when developing training and rehabilitation programs. It’s “no ifs, and a better butt.”

Ultimate Athletics – 1216 Yonge St – (416) 922 8181

Ultimate Athletics is a fitness club that aspires to be a more intimate affair in comparison to the chain gyms throughout the city. Club owners Paula Ryff and Vlad Radanovic have decades of experience and pride themselves in challenging workouts with a warm and friendly atmosphere. “We hope to have the opportunity to earn your trust,” Paula and Vlad proclaim on their site. “As our clients will attest, we’re quite serious about helping people achieve their true potential.” They offer a wide range of classes that last between 45 minutes and an hour, and are available to all skills and abilities.

Ferris 360 – 1910 Yonge St – (647) 347 7707

Ferris 360 is a gym that is focuses on providing carefully crafted, 60-minute full body workouts with their FULL360 classes. They pride themselves in offering their programing during ‘convenient hours’ for the working professional. Their programming is designed for all skill levels, 3-6 times a week.

Moksha Yoga Uptown – 1498 Yonge St – (416) 868 9642

If you prefer your exercise slow, steady, and a little steamy, Moksha Yoga Uptown is the place for you. Offering yoga, hot yoga, pilates, and a bustling wellness centre with registered massage therapy, Moksha has something for everyone to zen out to. With an extensive class schedule starting at 6:30AM, Moksha offers drop in, 5-classes, or 10-class options, or if you’re a newbie they have a $60 Intro Month Pass!

Studio³ – 1228 Yonge St – (416) 964 3939

If you’re looking to focus solely on wellness through Pilates and yoga, Studio³ is “how Pilates was intended to be.” Studio³‘s instructors are all fully STOTT Pilates certified and provide a varied portfolio of yoga and Pilates disciplines under one roof. New four-week programs are launched throughout each month, with many available in the evenings.

Striation 6 – 33 Davisville Ave – (416) 972 0599

A little north of Yonge + St. Clair near Davisville Station, Striation 6 offers an extremely flexible, pay-as-you-go approach to fitness. They also offer a slate of evening fitness classes, personal training, yoga, boot camps, and boasts an extensive collection of exercise equipment for self-directed workouts. Striation 6 also provides instruction on ‘Muscle Activation Techniques’ that aim to produce more efficient muscle contractions for injury prevention and rehabilitation.

Goodlife Fitness St. Clair – 12 St. Clair Ave E – (416) 927 8042

One of the larger, well known gyms in the Toronto fitness scene is Goodlife. The Goodlife Fitness at 12 St. Clair E is a fully equipped co-ed location and offers individual machine workouts as well as group exercise classes focusing on strength and conditioning, and cardio.

Yonge + St. Clair’s Extensive Ravine System

Toronto is home to a network of deep ravines and trails that run throughout the city, and Yonge + St. Clair is lucky to be within walking distance of many. David Balfour Park, the Rosehill Reservoir, and Mount Pleasant Cemetery frequently make top 10 lists for runners and cyclists, and link to the much larger trail network of Toronto.

JJ Bean Coffee Roasters opens today at 2 St Clair Avenue W, its third location in Toronto this year. The Vancouver company is an early partner in the redevelopment of the Yonge + St Clair intersection. Owner John Neate was initially attracted by Deer Park’s houses and neighborhood. “There are communities that I walk in and I’m happy and I want to go back. They bring me life,” he says. “There’s artists, there’s a park, there’s independent fashion, interesting architecture. Those are places I’m drawn to.”

The housing around Yonge + St Clair served as inspiration for the cafe’s design, as well — including an impressive slate-styled arched roof that hangs over the espresso bar. This is in stark contrast from how JJ Bean Adelaide’s black granite counters and dark wood panels blend into the lobby of 130 Adelaide Street West, and the minimalist industrial aesthetic of JJ Bean Bartley, just east of the city at 197 Bartley Drive. The company has become known as much for its distinctive store designs, each one suited to its surroundings and history, as it is known for high-quality coffee.

After two decades of honing its specialty coffee niche on the west coast, JJ Bean is now poised to expand across Toronto. JJ Bean serves seasonal single-origin coffees and signature blends on French press and drip-filter options, and a selection of classic espresso-based beverages. The coffee is roasted to order each day at JJ Bean Bartley, which serves as roastery and commissary, where food is prepared fresh daily for each cafe to bake every morning. JJ Bean also serves full-meal options including wraps and sandwiches through its in-house artisan bread program.

JJ Bean has often been at the forefront of neighborhood regeneration in Vancouver, with many locations such as Main Street, Woodward’s, and Fraser opening in advance of community growth. But the company also stays true to its neighborhoods. Reflecting on the company’s accomplishments, Neate says “In twenty years we’ve never closed a location. So we don’t move as quickly as other people move but we make sure that where we go is going to be built to last and be a significant part of that community for many years.”

Ideally located near TTC St Clair Station and 512 Streetcars. JJ Bean St Clair will open on Monday October 31st, 2016 with regular hours: weekdays 6:00am-8:00pm and weekends 7:00am-8:00pm.

Established in 1996 by John Neate, JJ Bean Coffee Roasters exists to honour people through great coffee, service, food, and spaces. The Neate family has been roasting coffee for four generations. Family-operated to this day, JJ Bean now has 18 locations in Vancouver and three in Toronto.

For more information, please visit:

http://www.jjbeancoffee.com 

@jjbeancoffee on Instagram, Twitter, and Facebook

WIN A $15 JJ BEAN ST. CLAIR GIFT CARD

Like, share, and tag your friends to this image on our Facebook, Twitter, and/or Instagram for a chance to win 1 of 3 $15 JJ Bean Gift Cards! Winners to be announced Wednesday, November 2nd at 8:00PM!

Public art has the ability to make a neighbourhood better. It can even elevate its profile by taking underutilized public space and transforming it into something that helps shape the definition of a community. Yonge + St. Clair is lucky to have a collection of public artworks that not only stay true to the history of the intersection, but display the neighbourhood’s evolution towards the modern and the contemporary.

Earlier this summer, NOW Toronto released a list of 50 of the city’s best-kept secrets, focusing primarily on the murals, buildings, monuments, and landmarks around Toronto. Yonge + St. Clair had four works make the list: The Rosehill Reservoir, the St. Clair Mural, the Peter Pan Sculpture at St. Clair and Avenue Road, and the Story of Oils mural in the lobby of Imperial Plaza.

Those four pieces are excellent representations of the public artwork that has been present around Yonge + St. Clair for almost 150 years, but are just the tip of the iceberg. What other art is hidden around the area?

MOTHER AND CHILD, 32 HEATH STREET 

Yonge + St. Clair is home to a collection of pieces by renowned Canadian sculptor Florence Wyle, a resident in the area. Her 1947 piece, Mother and Child, was commissioned by the Canadian Mothercraft Society and sits outside their building on Heath St. Additionally, at the northeast corner of St. Clair Avenue East and Mount Pleasant Road is Loring and Wyle Park, dedicated to the two sculptors, who for many years had a studio established in the area.

RECLINING FIGURE, 95 ST. CLAIR WEST 

Outside of 95 St. Clair West rests a figure mounted in a horizontal position, lying on it’s back, and cut off at the knees with the barest stumps for arms. Commissioned by Imperial Life Insurance, the Reclining Figure was produced in 1967 by Canadian sculpture John Fillion and adds a compelling masculine presence to the street.

RELIEF FIGURES, 200 BALMORAL AVENUE 

Latvian born, Canadian sculptor Augusts Kopmanis was commissioned by the St. John’s Latvian Lutheran Church to produce this piece in 1968. This hidden sculpture is one of the most dynamic pieces around Yonge + St. Clair – the figures are initially only etched into the stone, but as the people become younger and more vigorous, they are given more depth until they penetrate the stone completely and acquire three dimensions.

SAILS, 22 ST. CLAIR EAST

Prominently placed between two flights of stairs leading up to the entrance of the Weston Centre, stands Sails by renowned Canadian sculptor, Gord Smith. This stainless-steel abstract welds three gleaming steel panels angled like sails on a boat that’s experiencing harsh winds. This 1981 abstract commemorates Garfield Weston and is one of only three prominent public sculptures in Toronto that honours an individual entrepreneur.

ELECTRIC GREEN, 75 ROSEHILL AVENUE

Over the years, the “Mysterious Date” faces by Toronto street artist Anser have become an unmistakable and irreplaceable part of the Toronto Street Art scene. Yonge + St. Clair has been home to his Electric Green piece since early 2014, being scrawled onto a small building across from the Rosehill Reservoir. Anser’s work shows an ability to meld “high art” portrait techniques into the contemporary graffiti scene, melding the old with the new.

Toronto has recently become obsessed with the small plates movement, with tapas, antipasti, mezze, and appetizers becoming more and more popular on local menus. There’s something about it that adds a level of sophistication that elevates the traditional dinner experience. For Yonge + St. Clair, hidden in a little courtyard just north of the intersection, sits Cava, which has been serving Spanish Tapas to midtowners long before the rest of city became obsessed. “We’re one the first restaurants in the wave of modern Spanish in the city,” explains Cava head chef and owner Doug Penfold, who just celebrated a decade in business, in the neighbourhood earlier this year.

Doug has more than 27 years professional experience in the food industry and has been with Cava since the beginning, becoming the restaurant’s head chef and owner in 2014. We sat down with him this week to talk Cava and life at Yonge + St. Clair.

Cava is an easy-to-miss restaurant tucked away in the courtyard at 1560 Yonge, and even though they’ve been serving the area for as long as they have, Cava is still considered a hidden gem by many.

“The neighbourhood has been extremely supportive of us,” Doug shares, “You don’t get to ten years without the neighbourhood wanting you to be here, and we’re very thankful for that.”

Doug employs a “nose-to-tail” sensibility in the dishes Cava creates, focusing largely on Spanish cuisine, with flavours and dishes from other Latin countries playing a large roll in the restaurant’s food.

“Spain’s food culture is that of sharing and we’ve brought that to Cava – it’s a large menu that’s meant to be shared,” explains Doug, “typically we’ll suggest a tour of things anywhere from four to six dishes depending on how you and the rest of your table is feeling.”

The frequently changing menu begins with small plates of Spanish Croquettes with a Caper-Sultana Sauce ($4.00) to various Pincho’s ($4.50 to $9.50).

Cava’s Fried Japanese Eggplant ($15.00) has a crisp outer layer gives way to a soft core of eggplant. Sitting atop tangy tomatillo sauce and fresh cheese, the dish is brought into focus with a sweet drizzle of honey and the smoky/saline complement of Japanese bonito flakes.

‎Supple cubes of skewered venison leg are given a flash-sear atop the hot plancha. Marinated in achiote, roasted garlic, and orange juice, the delicate meat is rested upon earthy sautéed red cabbage and is available for $17.00.

Large pieces of butter-basted sweetbreads sit with slightly bitter shredded radicchio, slivers of poblano‎ chilis, and pieces of crunchy walnut. Cava’s Veal Sweetbread ($26.00) is lifted by a zippy yet subtle walnut vinaigrette.

Finally, Cava’s Cider-broiled Sablefish ($30.00) is marinated in miso and apple cider, and the moist fish is broiled and complemented by nutty Italian black rice, and delicately wilted escarole.

“Cava is very much a progressive kind of dinner when compared to the traditional meal of an appetizer, main course, and dessert.”

Along with their extensive menu, Cava also offers over 40 wines by the glass and over 200 different bottles to aide in your culinary experience.

In regards to the Yonge + St. Clair community, Doug has been very thankful. “The neighbourhood has been fantastic and the people living here are great. This community deserves to see more quality services and businesses come back into the neighbourhood.”

This summer Cava began having Sunday brunch as a thank you to the community. “We’re just trying to do good things for the Yonge + St. Clair neighbourhood because they’ve been so good to us.”

“With all the development, and what the Westons and Slate are doing, there’s a lot of room for growth and quality to come to the area.”

“It’s been a lot of fun – ten years later and we’re still very passionate, we’re still pushing, we’re still well known in the city.” Along with Cava, Doug has a second restaurant in Yorkville called Chabrol, and is “slowly working on some other projects.”

“With everything we do, it’s slow and steady. We like to make things that last, things that are quality, and things that matter.”

Cava is open everyday from 5:00PM to 10:00PM.

Images provided by Cava Restaurant

Now only a few months old, the St. Clair Mural has become a staple to the atmosphere and energy of the Yonge + St. Clair community. Images of the mural dominate the intersection’s geo-tags on social media, and it has received international recognition and praise. It’s improving on what’s an already great contemporary scene growing in the community. Last week, one of the St. Clair Mural’s major collaborators, the STEPS Initiative, celebrated their 5^th Birthday on the rooftop patio of Yonge + St. Clair’s Scallywags with cake, music and live painting by local artist Nick Sweetman.

It was a rainy Thursday evening at Scallywags, but the atmosphere was light and jovial as key members of the project and the community came together to celebrate STEPS and the St. Clair Mural.

The STEPS Initiative is a Toronto-based charitable public arts organization that has become known for leveraging unlikely sites for cultural projects. “We enjoy working within the existing built form,” explains Alexis Kane Speer, founding director of STEPS, “working with the age and infrastructure of a space in areas that don’t typically hold cultural projects.”

One of those areas ended up being the western facing wall of 1 St. Clair East. “It’s all about how together we can leverage our built environment as a host to new cultural spaces and conversations,” continues Speer. “The conversation about this new cultural space at Yonge + St. Clair started when site partner Slate Asset Management recognized what they had in front of them – a giant blank canvas. They understood the role that public art plays in city building initiatives, and we feel fortunate that they decided to do so with STEPS.”

“They were incredible partners in making this project possible, and were supportive in every stage of this project’s development, including reaching out to their business partners in the area when we needed to garner additional sponsorship to make it possible.”

Alexis spoke often to how fortunate she felt towards all the supporters, artists, funders, and community partners STEPS had worked with over the years. “We felt very fortunate to have a great public response to this project when we set up tables in libraries and office lobbies to survey the community about what they wanted to see on that wall.”

When you take a closer look at the mural’s design, you will see recognizable Toronto landmarks like the CN Tower, St. Lawrence Market, and the Royal Ontario Museum, mixed with the A-frame architecture that is very characteristic of Yonge + St. Clair, and local businesses like Scallywags. The city’s vast green spaces and ravines are also illustrated in the form’s curvature, which are all reflections of what the community shared with STEPS by participating in community surveys.

“This mural is a perfect example of what’s possible when a strong public, private, and community partnership comes to life. It took over 10 months of hard, hard work to bring a design that is truly reflective of Yonge + St. Clair,” adds Speer.

“It is a step towards creating an identity for this neighbourhood and this city,” preached Ward 22 City Councillor Josh Matlow, who spoke at this event. “It’s the first step in showing the world that we are a creative, vibrant centre of arts and culture.”

Alexis was proud of how STEPS has evolved and changed the makeup of the city since its founding in 2011. “We have always been shamelessly attracted to challenges, especially ones that push ourselves and others in the cultural development and business sectors to think outside the box,” or in the St. Clair Mural’s case, the wall.

“So let’s allow art to do what art does best – start conversations, challenge the way we organize our community, and ask if there are other ways of building and maintaining our cities,” concludes Speer.

“It’s been a wild ride and we’re excited to see what the future holds for us.”

This week the Yonge + St. Clair Blog spoke with Andrew Moor, CEO and Director of Equitable and EQ Bank, a bank with roots in the neighbourhood since the early 1990’s.

We sat down to talk about EQ Bank, the rise of mobile in Canadian banking, and his feelings about Yonge + St. Clair. Andrew Moor joined the company in March of 2007 and in his tenure has seen the assets under Equitable grow to $14.4 billion, establishing Equitable as a major participant in Canadian banking.  

What sets Equitable and EQ Bank apart from other banks?

We’re what you’d typically call a challenger bank, or a bank with no branches. Equitable is the 9^th largest bank in Canada, but we operate entirely through digital and brokers, with the majority of our employees working out of the Yonge + St. Clair office.

What effect has smart phones had on the banking industry?

It has had a massive effect. EQ Bank is the first bank in Canada that was born in a mobile world, and the traditional set up of even online banking – sitting at your computer – is no longer the climate. Everything is moving towards becoming more phone-enabled; being able to sign up for an account, manage and monitor transactions, depositing cheques remotely, and EQ Bank was founded with mobile banking in mind.

Although, there are limitations with digital banking – you can’t write cheques or receive paper statements, but it’s a step towards the future and thinking about banking in a new way.

Mobile is the wave of the future. 

How does going mobile from the beginning separate you from the big banks?

With EQ Bank having a much smaller rental footprint, none of those street front location costs play a factor and it allows us to do things like offer the highest savings account interest rate in the country, or avoid charging fees for e-transfers – we even allow our customers to pay their bills through their saving accounts.

We have a great situation at Yonge + St. Clair, as we can run our entire bank from floors 3 through 8 at 30 St. Clair West. When you think about the cost that the big banks have to bear with having all those branches, with the advertising positioned as “come on in and we’ll take care of you.” It’s enormously expensive to deliver good service without either the product suffering, or the customer paying for it in some way.

So does this mean that EQ Bank doesn’t offer chequing accounts?

The one big thing we do that is unique in the Canadian marketplace is that your payroll can come into your savings account with a 2.0% interest rate on it, and you can pay your bills and send money to your friends directly out of that same savings account.

Most other banks require you to move money between savings and chequing accounts, but why is that? Our worldview on the matter is that fewer and fewer Canadians write cheques so it doesn’t make sense for most to have two accounts.

We’re trying to change that view of how banking should work.

You’ve mentioned the 2.0% interest rate from your Savings Plus account. EQ Bank generated a ton of buzz when it released that account last year. How has the reaction to this savings account educated Equitable about Canadians and their finances?

What it showed you is that Canadians are not necessarily satisfied with the options provided by the big banks and they’re prepared to try something new. We certainly hoped that would be the case when we launched the digital bank, but it turned out that Canadians were really looking for better solutions.

I recall reading that EQ Bank had to establish a weekly cap to the number of accounts it could open when it launched due to demand, is that still happening?

That was such a strange thing to happen – who has ever heard of a queue to sign up for a bank account? We did indeed have to set up a digital line-up to deal with demand at the time, but today anyone can visit our website and sign up.

What’s next for EQ Bank?

We’ve really only taken the first step in what’s going to be a long journey. Our goal is to become the bank that is widely regarded in Canada for offering the very best product and service to Canadians. It’s a pretty lofty goal, but we think we’ve got some great infrastructure to do that – we’re built on a great technology platform and have wonderful people that are committed to that cause.

In the next few years we want to keep on delivering new products and services that make sense for everybody, and work towards being known as a safe, simple, and trustworthy bank.

Any tips or advice for young Canadians just starting out on their financial journey?

Shop around. Don’t just walk into your parent’s bank branch and think that they will have all the answers for you. Go and compare and see if there are better answers out there. I really do think that a majority of Canadians are too complacent about their banking, but like buying anything else, you have to shop around and see what the best option is for you.

What drew Equitable to establish their Corporate Office at Yonge + St. Clair?

We’ve actually been here since 1992 and what drew Equitable to establish their office here was because many of our customers on the savings and GIC side were thought to live in midtown, so it was an effort to be more convenient to the customer.

We actually just renewed our lease at 30 St. Clair West as we really do enjoy the area; it has great transit connections, it’s a good location for employees that live uptown and downtown to commute to, and it’s a place that has its own unique feel. It’s not lost in the canyons of downtown Toronto, with a very unique neighbourhood character to it. It’s kind of cool in some ways.

You also have a lot of other facilities around here like the Goodlife Fitness, Moksha Yoga, and many other things that people want. Yonge + St. Clair has everything we need without being swallowed up in the downtown noise. 

What’s your favourite lunch spot in the area?

Capocaccia for sure. Go down and see Sal at Capocaccia, he’ll look after you. [laughs] 

[Laughs] Thanks Andrew. 

Cheers.

Images provided by EQ Bank