A US$1 billion project that has spent many years in development is finally ready to begin construction on Los Angeles’ Grand Avenue in the US.
Known as the Grand, Frank Gehry’s design consists of two towers, 20 and 39 stories high respectively, a 309-room hotel and 400 residencies with 80 affordable housing units included.
The location of this huge development sits directly opposite the Walt Disney Concert Hall, which was also designed by Gehry.
The US$1 billion venture is intended to make Grand Avenue a complete entertainment district, boasting more than 16,350m2 for restaurant dining, shops and a public plaza.
Kenneth Himmel, president of Related Urban, estimates the venture has taken about 17 years to get to this stage.
In November 2018, developer Related Companies partnered with CORE US, a China-based partnership between China Harbour Engineering Company and CCCG Overseas Real Estate, securing the final US$630 million needed to get the project underway.