Great Gulf announced today that it has reached an agreement to acquire the two-tower Mirvish Gehry project on Toronto's King West.
“We are very excited to add this signature project to our Great Gulf development portfolio. It will be Toronto’s first internationally acclaimed development from one of the world’s most celebrated architects, Frank Gehry,” says Great Gulf Homes President Christopher Wein, in a media release announcing the acquisition.
First announced in fall 2012, the ambitious proposal from David Mirvish and famed Canadian architect Frank Gehry originally included three towers. However, current approved plans scaled back the proposal to two towers, with a 92-storey west tower and a 82-storey east tower. A total of 1,949 residential units will be spread across the two buildings.
“It’s a magnificent development opportunity and aligns well with our vision to build iconic state-of-the-art developments. Toronto is truly a global city and this development will continue to build our reputation on the world stage. The entire team at Great Gulf is excited to work with Frank Gehry to realize the bold vision and legacy of David Mirvish,” says Great Gulf's Wein.
The Toronto-based developer has 12 developments (including Mirvish Gehry) either selling, renting or in registration in southern Ontario, including the recently completed Number One Bloor, one of the city's tallest condo towers. It remains unclear if the development plans will change in any material way following the acquisition, though the language used by Wein and Ed Mirvish Enterprises President David Mirvish indicates it will remain true to the original vision for the project.
"I believe the project will do honour to the history of the people in the city who built it to what it is today and will continue to project Toronto’s possibilities onto the world stage. Ed Mirvish Enterprises and Projectcore will move forward to support Great Gulf’s efforts throughout the process as they fulfill Gehry’s vision for Toronto," says Mirvish, in the media release.