It's never been 100% clear how the art gallery was to be funded.
It's always been 100% clear that
Mirvish was funding it.
Mirvish was paying to have Gehry design a 60,000 sqft venue.
Mirvish was supplying the art to put in it
Mirvish was providing access to this gallery to the public free of charge
Now, this does not preclude there being private/corporate partners/funding, or as a non-profit, from getting tax benefits/funding in the future.
The PoW theatre would have vanished and above it would have been hundreds of condo units sold to owners. Once turned over, Mirvish and his investors would have walked with a profit and no longer had any interest in the residential building.
Oh right...let's trot out that ridiculous narrative again...Mirvish is just a greedy bastard developer.
The gallery would have been part of a 6-storey, 2 block podium facility that would have not only have been a massive improvement to the street experience...it would have probably been a real design tour de force as well. We are losing that along with the gallery.
Mirvish was not planning on "walking away", and it's obvious most or all of the profits (and perhaps then some) were being sunk back into the project. Here's a great Torontonian who has put us on the map, and is leaving us this great gift as his legacy (which is important to him).
If Mirvish really doesn't want PoW, he can sell it and the land that it's on. It's not a heritage site.
This is a nonsensical statement.
It isn't a case of him "not wanting it".
If he wanted to sell the land...that's what he would have done in the first place.