Roughly four months afterbeing put on the market在拐角处,标志性的诚实Ed的财产Bathurst and Bloor streets has been sold. While the deal isn't expected to close for a few months, current owner David Mirvish did reveal the identity of the buyer toThe Globe and Mail. Vancouver-basedWestbank Corp., will assume ownership of the lucrative property — which also includes a number of historic houses on Markham Street — later this year. While no plans have been revealed for the site, the sale almost certainly promises the redevelopment of the property in the coming years.

Along with various projects in British Columbia, Westbank is responsible for theShangri-La Hotel in Toronto, which perhaps serves as indicator of the company's touted commitment to design, something Mirvish claims was key in his decision to sell the property to them. Other noteworthy Westbank projects include theFairmount Pacific Rim, the mixed-useWoodward'sdevelopment and the in-progressTelus Garden.

As Honest Ed's is not on the city's inventory of heritage properties, one suspects that it's a long shot that the current structure will be repurposed as part of future plans. This is a sprawling site in a densely populated area with significant history; one can only hope that the new owner has a vision that lives up to the opportunity. What do you think? Will this ultimately prove a boon to the neighbourhood?

Photo byZoe & Danielin the blogTO Flickr pool