The Financial District is a business district in Toronto, Ontario, Canada, within the downtown core. It was originally planned as New Town in 1796 as an extension of the Town of York (later the St. Lawrence Ward). It is the main financial district in Toronto, and is the financial heart of Canada. It is bounded roughly by Queen Street West to the north, Yonge Street to the east, Front Street to the south, and University Avenue to the west, though many office towers in the downtown core are being constructed outside this area, which will extend the general boundaries.