From 1912 to 1989, this was the site of Arena Gardens, the second rink to be built here. With a seating capacity of 7,500, the arena was billed as the largest in the country and was home to many professional hockey teams, including the franchise that became the Toronto Maple Leafs. Norman Albert gave the first radio broadcast of an NHL hockey game here on February 14, 1923. A Toronto team won three Stanley Cups in the building.
Arena Gardens also hosted numerous public gatherings, including political, religious and other social events. The inaugural service of the United Church of Canada was held here in 1925, and music legends Frank Sinatra and Glenn Miller preformed here in the 1940s.
Following the Toronto Maple Leafs' move to Maple Leaf Gardens in 1931, the facility was renamed Mutual Street Arena and was used for recreational ice skating and roller skating. In 1962, the arena was renovated to add curling sheets and was renamed The Terrace. It was demolished in 1989.