Honest Ed’s sold to Vancouver developer
Posted October 27, 2013 9:37 pm.
This article is more than 5 years old.
Toronto landmark Honest Ed’s has been sold.
Owner David Mirvish officially announced on Monday that he had signed a deal to sell the site to Vancouver-based Westbank Properties.
The bargain basement discount store — known for its loud, glaring signs — as well as the surrounding land at the corner of Bloor and Bathurst streets was put up for sale in July.
Mirvish said that Honest Ed’s will continue to operate for at least the next two to three years while Westbank determines what they are going to do with the land known more commonly as “Mirvish Village.”
Although he has no idea what the developers have planned for the site, Mirvish said he thinks this move will be good for the neighbourhood.
Westbank made their first move into the Toronto-area when they developed the Shangri-La Hotel on University Avenue, which was completed in 2012.
Honest Ed’s first opened in 1948 by David’s father, Ed Mirvish, after he cashed in his wife’s insurance policy.
He later expanded and diversified his empire to include real estate and Mirvish Productions, now run by the junior Mirvish.
Ed Mirvish died at the age of 92 in July 2007.
With files from Showwei Chu
