Popular bakery-cafe chain Panera Bread is making its return to downtown Toronto, with construction now underway at 253 College Street. The new location, situated in the heart of the University of Toronto district, marks the brand’s first downtown presence since closing its high-profile Yonge-Dundas location in 2020.
The original Panera Bread in Toronto opened in 2012 and was located at 322 Yonge Street. Since shuttering during the pandemic, the retail space at the corner of Yonge and Edward has since been converted into a 7,500 sq ft Healthy Planet grocery store. Prior to Panera Bread, the space was home to The Levi’s Store.
The fast-casual restaurant will occupy the former McDonald’s McCafe space at the base of the CampusOne student residence, strategically positioned near the corner of College Street and Spadina Avenue. This location choice signals a clear focus on capturing the student and young professional market that dominates the area.
This move represents a significant shift in Panera’s Toronto strategy. After entering the Canadian market in 2008, the chain had gradually scaled back its urban Toronto presence, with notable closures including its Yonge Street location near Yonge-Dundas Square and its Sherway Gardens-area store at 197 North Queen Street. The brand’s most recent GTA closure came in February 2023, when it shuttered its Mississauga location at 5935 Mavis Road.
Currently, Panera maintains a strong presence across Ontario with nine locations, primarily in suburban and secondary markets including Barrie, Belleville, Kingston, Markham, Mississauga, Oakville, Oshawa, Ottawa, and Whitby. The College Street location will be the chain’s only downtown Toronto store, bringing its signature menu of artisan breads, pastries, sandwiches, soups, and salads back to the city core.
6ixRetail will be keeping an eye out regarding opening timelines and specific details about the new location. This article will be updated as additional information becomes available.
Dustin Fuhs is the Editor-in-Chief of 6ix Retail. He is the former Editor-in-Chief of Retail Insider, Canada’s most-read retail trade publication. He has over 20 years of experience in the retail, marketing, entertainment and hospitality industries, including with The Walt Disney Company, The Hockey Hall of Fame, Starbucks and Blockbuster.
Dustin was named as a RETHINK Retail Top Retail Expert in 2024 and 2025.