Remember when David Mirvish announced his plan to turn the Princess of Wales Theatre into a series of sky high, Frank Gehry-designed super condos on King Street West?

That's still happening – albeit on a smaller scale – but Mirvish himself is no longer at the helm.

The theatre tycoon and son of "Honest" Ed Mirvish announced this week that Great Gulf would be taking over his ambitious Mirvish+Gehry landmark project after purchasing the site for an undisclosed amount of money.

Big architectural and development news as @greatgulf acquires Mirvish + Gehry 92 & 82 story project in #Toronto https://t.co/L2uch2Gw0P pic.twitter.com/Ujd5ODADzq

— Mike CollinsWilliams (@mikejcw) October 2, 2017

"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," said Mirvish in a press release announcing the sale.

"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."

With two condo towers ranging in height from 82 to 92 stories, the development at King and Duncan Streets will still feature the tallest residential structures in all of Canada.

Developers also say that Frank Gehry is still on board, which is great news for Toronto's entertainment district. Our city could definitely benefit from more of the celebrated Canadian architect's flourish.