With the opening of the Toronto Eaton Centre in 1977, the Eaton's Main Store and Eaton's College Street were both closed in favour of the new Eaton's flagship store at Yonge and Dundas streets.
The College Street store was spared the fate of the former Main Store, which was demolished to make way for the second phase of the Eaton Centre construction.
 
The College Street building was sold to new owners, who renamed it as College Park after adapting it for different uses.
 The lower floors of the store were converted to a shopping mall of small, high-end boutiques and a subway concourse (with the marble and Art Deco stylings of the Eaton's store carefully preserved), and the upper floors were converted to office space.

Although the new owners had originally agreed to preserve the Seventh Floor, they eventually determined that its preservation and restoration was not financially feasible.
They applied for a demolition permit to convert the entire floor to office accommodation.
 After a lengthy court battle with the City of Toronto, the Court of Appeal for Ontario ruled in 1986 that the 1975 designation of the building under the Ontario Heritage Act protected the Seventh Floor from demolition.
 (See Re Toronto College Street Centre Ltd. and City of Toronto et al. (
1986), 56 O.R. (2d) 522 (Ont.
C.A.) Despite several changes in building ownership, and the efforts of local heritage advocates, the Seventh Floor was sealed off for many years and allowed to deteriorate.
Although it was protected by law, owners had no legal obligation to use or restore it.
After an extensive renovation program to restore the original art deco architecture, the space reopened in 2003 as The Carlu, an event and convention venue.

Over time, College Park was expanded through the addition of a residential apartment building in 1978 and a 30-storey glass and steel office building in 1984 (which housed the offices of the Maclean-Hunter media empire).
 Although neither addition was architecturally sympathetic to the original building, the heritage and architectural integrity of the former Eaton's store was preserved.
The former Maclean-Hunter now houses offices of several government of Ontario ministries.
 The retail levels have two grocery stores (Metro and Sobey's) plus a Winners store.
With the opening of the Toronto Eaton Centre in 1977, the Eaton's Main Store and Eaton's College Street were both closed in favour of the new Eaton's flagship store at Yonge and Dundas streets. The College Street store was spared the fate of the former Main Store, which was demolished to make way for the second phase of the Eaton Centre construction.  
The College Street building was sold to new owners, who renamed it as College Park after adapting it for different uses.  The lower floors of the store were converted to a shopping mall of small, high-end boutiques and a subway concourse (with the marble and Art Deco stylings of the Eaton's store carefully preserved), and the upper floors were converted to office space.
Although the new owners had originally agreed to preserve the Seventh Floor, they eventually determined that its preservation and restoration was not financially feasible. They applied for a demolition permit to convert the entire floor to office accommodation.  After a lengthy court battle with the City of Toronto, the Court of Appeal for Ontario ruled in 1986 that the 1975 designation of the building under the Ontario Heritage Act protected the Seventh Floor from demolition.  (See Re Toronto College Street Centre Ltd. and City of Toronto et al. (1986), 56 O.R. (2d) 522 (Ont. C.A.) Despite several changes in building ownership, and the efforts of local heritage advocates, the Seventh Floor was sealed off for many years and allowed to deteriorate. Although it was protected by law, owners had no legal obligation to use or restore it. After an extensive renovation program to restore the original art deco architecture, the space reopened in 2003 as The Carlu, an event and convention venue.
Over time, College Park was expanded through the addition of a residential apartment building in 1978 and a 30-storey glass and steel office building in 1984 (which housed the offices of the Maclean-Hunter media empire).  Although neither addition was architecturally sympathetic to the original building, the heritage and architectural integrity of the former Eaton's store was preserved. The former Maclean-Hunter now houses offices of several government of Ontario ministries.  The retail levels have two grocery stores (Metro and Sobey's) plus a Winners store.
College Park (Toronto)