226 Water Street Municipal Heritage Building

226 Water Street has been designated a City of St. John’s Municipal Heritage Building because of its architectural and historic values.

226 Water Street is aesthetically valuable because it is a very fine example of the Classical Revival architectural style. This is evident in the symmetrical façade and balanced use of decorations. Classical details, such as pilasters, dentils, columns, urns and fret work express the institutional nature of this bank building, while also emphasizing the importance of the financial institution. 226 Water Street is faced with a lightly colored cut ashlar, and stands apart from surrounding buildings because of its color and high level of decoration. The size of the building is also another distinguishing feature, set off by the very large plate glass windows on the first level. The main entrance is recessed and columns flank each side of the opening.

226 Water Street is historically valuable because it is considered the oldest existing “foreign” branch In Canada. The bank opened in St. John’s in 1895, the year the colony’s banks failed. Then called the Merchants Bank of Halifax, the Royal Bank opened an agency in Water Street to assist in the restoration of essential banking services. It remained the only branch on the island until 1911.