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In Market

Frank Gehry-Designed Towers Rise in Toronto; Late Philanthropist’s Art Collection Heads to Auction

By: Ameena Walker

Frank Gehry’s Tallest Residential Project Will Rise in Toronto

Two mixed-use skyscrapers, designed by Frank Gehry, will join Toronto’s skyline and add 2,034 condominiums to the city’s tight inventory. The development, officially named Forma, is the work of developers Great Gulf Group, Westdale Properties, and Dream and will rise 73 and 84 stories at 266-284 King Street West, with one- and two-bedroom residences across the two towers. 

The project has been in the works for more than a decade and is Gehry’s tallest project to date, notes Storeys. Its facade consists of a series of stacked vertical glass rectangles with an iridescent finish that “will reflect the colors of the sun and the form of the surrounding buildings to enhance Toronto’s skyline,” says Krystal Koo, head of marketing and sales at Dream Unlimited Corp.

Amenities at Forma will include a fitness center, spa, recreation rooms, and a pool. The project will also house new facilities for OCAD University, as well as commercial and retail space. The residences are expected to hit the market later this year, with occupancy set to begin in 2028.

Ultraluxe Ritz-Carlton Residences Takes Shape on Florida’s Gulf Coast

The Ritz-Carlton is bringing another of its branded condominium residences to Florida, this time on the state’s Gulf Coast in Estero Bay, where a pair of Arquitectonica-designed towers will add 224 residences to the waterfront.

Sales already launched on half of the homes earlier this month, with layouts ranging from two to four bedrooms and prices starting around the $2 million mark. Robb Report got a first look inside, revealing residences that are accessed through a private elevator and feature wood flooring, 10-foot ceilings, floor-to-ceiling windows, integrated kitchen appliances, and spacious balconies. 

The Ritz-Carlton Residences, Estero Bay, promises to provide residents with resort-style perks and amenities like access to one of three guest suites for visitors, along with concierge and valet services, boat shuttles, and sunset cruises. There are more than 36,000 square feet of indoor amenities and five acres of outdoor gardens with pools accompanied by food and drink options, heated spas, and a lagoon with a floating pavilion. Inside, you’ll find private dining rooms, a wellness center, a children’s adventure room, and a cafe that serves continental breakfast.

The Ritz-Carlton Residences, Estero Bay, is the brand’s 10th offering in the Sunshine State. London Bay Development Group is responsible for the project, and design studio Meyer Davis is leading interiors, while EDSA handles landscape design. Completion is scheduled for 2025.

Late Philanthropist Anne Bass’s Art Collection Heads to Auction at Christie’s

Twelve pieces of art from the collection of the late philanthropist Anne Bass will be sold at Christie’s this spring, Art News reports. The collection features Impressionist and modern works from artists such as Edgar Degas, Claude Monet, and Mark Rothko. The collection is expected to fetch around $250 million, though that number could rise significantly, as witnessed in the auction of Harry Macklowe’s blue-chip art collection last November, which included works  by Andy Warhol, Cy Twombly, and Jackson Pollock. Sotheby’s anticipated selling half of the Macklowe collection for around $400 million, but the auction ended up netting more than $676 million. 

Closings Commence at Morris Adjmi-Designed Förena in Manhattan

Closings are underway at Förena, Downtown Manhattan’s Scandinavian-inspired 12-story boutique condominium, designed by Morris Adjmi. The building is located at 540 Sixth Avenue and has just 50 residences that range from one to three bedrooms, with prices going from $1.575 million.

DNA Development and Landsea Homes tapped interior design firm Urban Casa for two model residences that highlight the Scandinavian aesthetic with serene colors and layouts, complemented with pops of color and warm-toned furniture. All homes come with ceilings that soar 13 feet high, oversized windows, and open kitchens with Miele appliances, lacquered Italian cabinetry, and Calacatta Regina marble countertops.

A Zen garden, fitness center, residents’ lounge, and landscaped rooftop round out amenities at Förena.

Michael Shvo Will Transform Miami’s Historic Raleigh Hotel

Developer Michael Shvo has received the final approval to redevelop Miami Beach’s Raleigh Hotel and adjacent properties, reports The Real Deal. Plans for the project—located at 1751, 1757, and 1775 Collins Avenue—call for a new 175-foot luxury condominium tower and restoration of the Raleigh, South Seas, and Richmond hotels. 

Shvo, Bilgili Holding, and Deutsche Finance America paid around $243 million for all three hotels in 2019, though Bilgili is no longer involved in the project. The Raleigh Hotel alone was worth $103 million and was purchased in 2019 from fashion designer Tommy Hilfiger and Dogus Group, who originally planned to turn the art deco hotel into a private club.