Elly Reisman is a Canadian real estate developer, best known as the co-founder and chairman of Great Gulf Homes — one of Toronto’s largest homebuilders — with a net worth estimated anywhere from roughly $500 million to over $1 billion, depending on the source.
So who is Elly Reisman? Born in 1950, he co-founded Great Gulf Homes in 1975 alongside his late brother Norman, starting out building single-family houses in Cambridge, Ontario, before expanding into condos, commercial real estate, and residential towers across North America. Today, Great Gulf’s portfolio includes more than 80,000 homes built, a team of over 1,500 employees, and landmark projects like Toronto’s One Bloor — one of the tallest residential towers in the country. He’s one of several real estate and business figures Echo Bloomes has profiled for their outsized industry footprint.
Quick Facts
| Born | 1950, Canada |
| Occupation | Real estate developer |
| Known for | Co-founder and Chairman of Great Gulf Homes |
| Other ventures | Ashton Woods Homes (US homebuilder), First Gulf (commercial real estate) |
| Estimated net worth | Roughly $500 million to over $1 billion (estimates vary by source) |
| Spouse | Dragana Maznic, interior designer |
| Children | Elissa, Josh, and Faryl Reisman |
Early Life
Elly Reisman was born in Canada in 1950. Detailed public information about his childhood and education is limited, which is typical for business figures who built their profile through their company rather than personal media appearances. What is well documented is his decades-long partnership with his brother Norman, which began with modest single-family home construction and grew into one of Canada’s largest homebuilding companies.
Career: Building Great Gulf Homes
Elly Reisman co-founded Great Gulf Homes in 1975 with his brother Norman, initially building single-family houses in Cambridge, Ontario. Over five decades, the company grew into one of Canada’s most prolific developers, credited with more than 80,000 homes built and a team of over 1,500 employees. Its most recognizable project is One Bloor, a 76-storey, mixed-use Toronto tower — residential, retail, and office space combined — that ranks among the tallest residential buildings in Canada, standing at the busy intersection of Yonge and Bloor streets.
Career Timeline
| Year | Milestone |
|---|---|
| 1950 | Born in Canada |
| 1975 | Co-founds Great Gulf Homes with brother Norman Reisman |
| 1975–2000s | Expands from single-family homes in Cambridge, Ontario into condos and commercial real estate |
| 2000s | Family acquires a stake in Ashton Woods Homes, a US homebuilder based in Atlanta |
| 2020s | One Bloor, a 76-storey mixed-use tower, completes at Yonge and Bloor in Toronto |
| Present | Serves as Chairman of Great Gulf; company portfolio exceeds 80,000 homes built |
Beyond Great Gulf
Reisman’s real estate interests extend beyond his flagship company. His family holds a stake in Ashton Woods Homes, an Atlanta-based homebuilder with operations across the U.S., and he’s also linked to First Gulf, a commercial real estate firm. This combination of residential and commercial holdings underpins his substantial estimated net worth, placing him among Canada’s wealthier real estate figures.
Elly Reisman’s Net Worth
Public estimates of Elly Reisman’s net worth vary considerably depending on the source — some place it at around $500 million, while others suggest it exceeds $1 billion. This kind of spread is common for privately held, family-run real estate companies like Great Gulf, where detailed financials aren’t publicly reported the way they would be for a listed company. What’s consistent across sources is that his wealth is tied primarily to Great Gulf Homes, with additional value from his family’s stakes in Ashton Woods Homes and First Gulf.
Personal Life: Family and a Passion for Yachting
Elly Reisman is married to Dragana Maznic, an interior designer who previously served as Design Director at Great Gulf and has collaborated with him on multiple building projects over 16 years. Together, they have three children: Elissa, Josh, and Faryl Reisman.
The Entourage Superyacht
Outside of real estate, Reisman is known for a lifelong passion for yachting, a hobby he traces back to childhood boating trips with his father. He has owned a series of increasingly large yachts built by Italian shipyards, culminating in the 47-metre superyacht Entourage, whose interiors — designed by his wife, Dragana Maznic — were styled to feel like a “penthouse on the water.”
Frequently Asked Questions
Who is Elly Reisman?
Elly Reisman is a Canadian real estate developer, best known as the co-founder and chairman of Great Gulf Homes.
What is Elly Reisman’s net worth?
Estimates vary widely, ranging from around $500 million to over $1 billion depending on the source, since Great Gulf is privately held and doesn’t publish detailed financials.
Is Elly Reisman married?
Yes. He’s married to interior designer Dragana Maznic, who previously served as Design Director at Great Gulf.
What companies is Elly Reisman associated with?
He’s chairman of Great Gulf Homes, and also has family interests in Ashton Woods Homes and First Gulf.
How tall is One Bloor, Elly Reisman’s landmark project?
One Bloor is a 76-storey, mixed-use residential tower in Toronto, ranking among the tallest residential buildings in Canada.
What is Elly Reisman’s yacht called?
His 47-metre superyacht is named Entourage, with interiors designed by his wife, Dragana Maznic. More detail on the vessel is available via SuperYacht Fan’s profile of Entourage.
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