BMO Financial Group has announced plans to take over the former Sears HQ at the CF Eaton Centre in a project that will include a 350K SF tech campus.

The downtown "BMO Campus" development is aimed at attracting more tech talent. It is described in a Cadillac Fairview news release as featuring “advanced technology and innovative work spaces.”

The four-floor campus will feature advanced digital technology, open floor plans, a variety of collaborative work areas and a four-storey atrium. It will house 3,500 employees.

"This urban campus is central to the business transformation that's underway at BMO. We're unified in our focus on the customer and now we're accelerating, moving ahead ready to capitalize on every advantage: our wealth of customer insights, the right investment in technology and the discipline to keep things simple. This step we are taking is all about our customers because ultimately, it is they who lead our bank," BMO CEO Darryl White said in the release.

"We're positioning the bank to be at the forefront of change and lead the industry. This new workplace will be a centerpiece for how we drive value."

The office is expected to open in 2021. It marks the trend of repurposing former retail locations for office or other uses.

"Cadillac Fairview is excited about the opportunity to collaborate with BMO to envision and design this exciting re-imagining of work space," Cadillac Fairview President and CEO John Sullivan said in the release.

"With CF Toronto Eaton Centre as its home, BMO's urban campus will stand out as a vibrant environment to stimulate bold ideas, foster new ways of working, and ultimately attract the best talent."