The Related Cos. of New York-based has been selected to create the $1.2-billion centerpiece on Grand Ave. in downtown L.A.
"Many city and community leaders envision the project as the final piece in a 40-year effort to make Grand Avenue already home to landmarks such as Walt Disney Concert Hall, the Music Center, the Museum of Contemporary Art and the Cathedral of Our Lady of the Angels a vibrant boulevard of luxury housing, office towers and cultural institutions.
Billionaire philanthropist Eli Broad, who was instrumental in building MOCA and Disney Hall and is leading the effort to redevelop Grand Avenue, has spoken about making the avenue Los Angeles' version of the famed Champs-Elysees in Paris.But Related, which was selected over Cleveland-based developer Forest City largely on the strength of its ability to finance the project, has thus far given few indications what the ambitious development will look like."
Thanks to Chris Steins
FULL STORY: New York Developer Chosen to Make Grand Ave. Grander
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