Lyft has officially opened a new 90,000-square-foot office at First Canadian Place in downtown Toronto, marking one of the larger net-new technology leases signed in the city in 2025.
The ride-hailing company opened the hub on Sept. 16 at 100 King St. W. Avison Young represented Lyft on the lease. The new space gives Lyft a significantly larger footprint in Toronto and makes the city the company’s second-largest technology hub in North America, behind only San Francisco.
Lyft said the hub is expected to create more than 500 jobs spanning engineering, product development, marketing and artificial intelligence.
From Coworking Space to Major Hub
The opening represents a major expansion from Lyft’s first Toronto office, which launched in 2024 in a coworking space. At that time, according to the company, CEO David Risher said the Toronto team numbered about 80 employees, most of them working in engineering.
Rachel Goldstein, Lyft’s vice-president of real estate, operations and supply chain, described the new opening as “years in the making.” She said Lyft’s real estate team was responsible for identifying the space and structuring the lease, while the company’s development, workplace operations, security and supply-chain teams managed the project through design, construction and launch.
The finished office includes a library intended for focused work, collaboration areas, a sports bar themed around Toronto’s sports teams, and a world map displayed at reception.
Toronto’s Tightening Office Market
Lyft’s expansion comes as space at the top end of Toronto’s downtown office market grows scarcer. According to CBRE, downtown trophy-office vacancy fell to 2.6% in the second quarter of the year, while overall downtown vacancy declined for a fourth straight quarter.
The new hub adds to a wave of technology-sector leasing activity in Toronto’s core, as companies compete for high-quality office space amid limited supply at the premium end of the market.
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