Financing secured for billion-dollar complex

By Thomas Allen09 November 2018


Artist’s impression of The Grand in Los Angeles, US

Construction is set to begin on a US$1 billion mixed-use development in downtown Los Angeles, US, now that financing has been secured.

Located between First and Second streets along Grand Avenue, The Grand will include 20,000m2 of retail space, a 20-storey hotel with 309 rooms, and a 39-storey residential tower with 436 residences – 20% of which will be affordable housing units.

Now that Deutsche Bank has agreed to lend the remaining $630 million, site preparations are due to begin this month.

The project is a public-private partnership (PPP) with the Los Angeles Grand Avenue Authority and it is being developed by Related Real Estate and its partner Core USA, a joint venture between China Harbour Engineering and CCCG Overseas Real Estate.

Completion is expected in 2021.

Latest News
Bangladesh minister urges caution over China’s BRI
Rising inflation making loans more difficult to pay off for countries in debt to China through BRI 
Cummins, Elevāt collaborate on IoT connected services
Connected engine solutions to provide whole machine diagnostics across diverse mobile machine platforms via single interface.
Nationwide Working at Height conference returns
Conference and trade show to take place in September following three-year hiatus