Great Gulf has reached an agreement with Ed Mirvish Enterprises to buy the proposed two-tower Frank Gehry-designed project in 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,” Ed Mirvish Enterprises President David Mirvish said in a Great Gulf news release.

“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 development at King and Duncan streets near the Princess of Wales Theatre will feature the tallest residential structures in Canada with two towers of 82 and 92 storeys. That height would top The One, an 82-storey condo development that recently broke ground on Bloor and Yonge.

“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,” Great Gulf Homes President Christopher Wein said.

“It’s a magnificent development opportunity and aligns well with our vision to build iconic state-of-the-art developments.”

Terms of the transaction were not disclosed.