Toronto, ON, Oct. 02, 2017 (GLOBE NEWSWIRE) -- Great Gulf and Ed Mirvish Enterprises announced today that they have reached agreement on the sale to Great Gulf of the site of the proposed landmark Mirvish+Gehry project in the heart of Toronto’s downtown Entertainment District.

"I am pleased to have concluded a transaction with Great Gulf that will see the realization and fulfillment of my vision for Mirvish+Gehry Toronto,” said David Mirvish, President, Ed Mirvish Enterprises. “I am delighted to have completed the development process that allows Great Gulf to create a wonderful addition to the Toronto skyline. 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. 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."

The development on the site located at the intersection of King St. and Duncan St. will feature the tallest residential structures in Canada. The development will comprise 2 towers with 82 storeys in the East Tower and 92 in the West Tower anchored by a multi-level podium. The site is zoned for mixed use including retail, office, institutional, hospitality and condominium suites in the towers.

“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,” said Great Gulf Homes President Christopher Wein. “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.” 

About Great Gulf

Established in 1975, the Great Gulf Group of companies including Great Gulf Homes an international award-winning, low-rise and landmark high-rise residential developer providing 50,000 families with places to call home; Ashton Woods Homes, the 3rd largest private builder and 18th largest in the U.S.; First Gulf, an innovative market leader in sustainable, accessible and transit-oriented commercial developments and large scale design-build industrial facilities; Tucker HiRise, a leading construction management company, specializing in the construction of high-density, mixed-used projects; H+ME Technology, a precision engineering panelization manufacturing facility; and Taboo Muskoka, one of Canada's top-ranked golf courses, is one of North America’s premier real estate organizations. With major projects in Canada and the United States, the company’s fully-integrated activities span the entire real estate spectrum. www.greatgulf.com

Attachments:

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/2080a640-848a-4e5a-bdea-774bd98b399e

Madeline Zito
Great Gulf Homes
416-774-2222
madeline.zito@greatgulf.com

Peter Kofman on behalf of Ed Mirvish
Projectcore Inc.
416 363 9066
p.kofman@projectcore.com