During the planning stages for Line 5 Eglinton, the station was given the working name "Dufferin", which is identical to the pre-existing Dufferin station on Line 2 Bloor–Danforth. On November 23, 2015, a report to the TTC Board recommended giving a unique name to each station in the subway system (including Line 5 Eglinton). Thus, the LRT station was renamed "Fairbank" after the Fairbank neighbourhood rather than the intersecting Dufferin Street.[6]
The main entrance will replace the Esso gas station on the east side of St. Hilda's Park, at the southeast corner of Dufferin Street and Eglinton Avenue.[5] A secondary entrance will be on the northwest corner, where a right-turn slip road will be removed to provide the necessary space. A third structure, for mechanical and venting purposes, will replace a storefront near the southwest corner.[3] Fairbank station will include a decorative exterior plaza having grass, a misting feature, 14 shade trees, 15 benches and 10 bicycle parking spaces. It will be suitable for community events.[4]
^"Line 5 Eglinton Station Names"(PDF). Board Presentation. Toronto Transit Commission. November 23, 2015. Archived from the original(PDF) on November 26, 2019. Retrieved November 30, 2015. TTC staff evaluated the initial report and the proposed names and provided feedback and recommendations. A primary TTC concern was to avoid replication and redundancy with existing TTC station names. The proposed names are unique and are not likely to be confused with existing station names.