Reaction is mixed to the announcement that David Mirvish plans to tear down his Princess of Wales Theatre to make way for a massive condo development.

Renowned architect Frank Gehry will design the three 80-storey towers that would stretch from the TIFF Bell Lightbox to the Royal Alexandra Theatre.

The arts would be represented by a free gallery displaying Mirvish’s extensive collection of abstract art. It would also become home to the Ontario College of Art and Design.

Some theatre lovers say it would be wrong for the city to lose the Princess of Wales. City Councillor Adam Vaughn, whose ward includes the theatre district, says the project has to be a net benefit to the neighbourhood, and the city.

City council must approve the project.