A Yonge Street late night staple, The Big Slice, served its last slice of pizza on Monday.

The closure was confirmed by staff who were cleaning the establishment and by Mark Garner, chief staffing officer and executive director of the downtown Yonge BIA.

The entire block where the pizza place is located is slated for demolition, and two condos will be built where the restaurant stands near the intersection of Yonge and Gerrard Street. Right behind the restaurant, the owners of the Chelsea Hotel eventually want to turn that building into several condos, as well.

Bradley Evelyn, who remembers lengthy lines outside the pizza joint when he'd show up after a late night of fun, said he's OK with plans to restore Yonge Street's older buildings and build more homes in the area.

"It's going to be more active and a lot of the grime of the city is going to be wiped out," Evelyn told CBC News outside the pizza shop.

Others, however, are concerned the new developments — if not planned correctly — could result in the area being stripped of its character.

"You get sort of a vanillafication of the city," said Ari Burkes.

Big Slice, which staff said has been open for some 45 years, made its final contribution to the neighbourhood on Monday morning as staff gave away free slices to homeless people in the area before shuttering the store.

So many of us have late-night memories attached to this Toronto institution — and we'd love to see yours. Send some snapshots of your best times at Big Slice to webtoronto@cbc.ca or tweet us @CBCToronto.