The Great Gulf real estate group has announced that it is set to acquire a high-rise development condo in the heart of Toronto’s entertainment district from Ed Mirvish Enterprises.
The project, known as Mirvish Gehry, is set to become a landmark development, with the aim of building two towers at 82 and 92 storeys high.
“I am delighted to have completed the development process that allows Great Gulf to create a wonderful addition to the Toronto skyline,” said David Mirvish, President of Ed Mirvish Enterprises.
“In Great Gulf we have selected a developer who is capable of executing Frank Gehry’s vision, and will work well with him to bring the project to realization.”
The initial proposal sought to demolish a Mirvish owned theatre complex to make way for a third tower, but was scaled back following significant local objection.
Once complete, the development will host retail, office, hospitality and institutional space, something that will appeal to many companies with real estate in downtown Toronto becoming increasingly in demand.
“Toronto is truly a global city and this development will continue to build our reputation on the world stage,” said Christopher Wein, President of Great Gulfs Homes.