Names.
It's tough to say exactly what will take over time. I resisted calling the Paramount 'the Scotiabank' when that name changed, but 20 visits to it during the film fest drummed it into me. I now bleat 'Scotiabank' like a sheep, and I concur with those that don't want that bank adding their name to anything else around town as they move to rebrand all arts-related events in town with their name.
In regards to the square, I am sure that the BIA insisted that the name of the square have the world Yonge in it, as their official name is the Downtown Yonge Business Improvement Area. They are doing branding too, and they know that if the word Yonge is mentioned when referring to the square, you will be reminded of Yonge more often, and you will associate better things with it, and maybe you will want to shop it more often.
No wonder the BIA wants the word Square in Toronto Life Square changed, because yes, the building's name has been carefully and deliberately chosen to confuse the public and eventually replace the name of the square itself in popular parlance. Times Square in New York came to be called that because of the New York Times building on its south side (long since moved), and Toronto Life magazine wants the same thing to happen here. The BIA has no power to change the name of the building at all, but they can ask of course. Toronto Life would be fools to relent.
In regards to the cinemas, who knows what AMC will call them yet. They might end up being AMC Metropolis at Toronto Life Square, as the original name of the building was likely chosen in consultation with AMC, who have been the lead tenant since the dawn of time. When the Paramount first opened, the building it was located in was actually called 'Festival Hall'. That name sure didn't stick as the cinema's did. AMC may have some brand equity tied up in the name Metropolis, maybe not, they could just as easily be AMC Toronto Life Square, probably will...
42