Gehry’s $1B The Grand project finally underway Downtown

The two towers will bring 309 hotel rooms, 400 resi units

Los Angeles /
Feb.February 13, 2019 05:00 PM
Architect Frank Gehry and renderings of The Grand in Downtown Los Angeles, (Credit: Related Companies)

A massive $1-billion development designed by Frank Gehry is finally coming to Downtown Los Angeles.

Construction of  The Grand, a mixed-use project with 39 stories and more than 400 condos and apartments, is underway after 15 years of planning and more than a decade of anticipation. Developers Related Companies and CORE USA expect the two towers to be complete by the fall of 2021, the Commercial Observer reported.

The development adds a 20-story Equinox hotel with 309 rooms, and a 39-story residential tower with about 100 condos and 300 apartments – 80 of which will be designated as affordable housing – to Downtown. Plans also call for 176,000 square feet of retail space, 12,000 square feet of restaurant space, a movie theatre complex, and a public plaza.

The site at 100 S. Grand Avenue was home to the “tinker-toy” parking structure, which was recently demolished. The new towers will face Gehry’s famous Disney Concert Hall across the street.

The project is funded by a $200 million bond from the city, a $290-million investment from CORE USA, and a $630-million construction loan from Deutsche Bank.

The developers said the project is part of the biggest development boom in Los Angeles in nearly a century, with $28.5 billion invested in downtown alone between 1995 and 2017.

AECOM was hired last year as the construction manager.

Related also completed the 12-acre Grand Park nearby at 200 N. Grand Avenue in 2012, and opened the 271-unit Emerson tower at 225 S. Grand Avenue in 2014. [CO] – Gregory Cornfield


Related Articles

arrow_forward_ios
Oceanwide's Liu Guosheng with  Oceanwide Plaza (Getty, Oceanwide)
Chinese developer finds buyer for unfinished Oceanwide Plaza project
Chinese developer finds buyer for unfinished Oceanwide Plaza project
8747 Parthenia Place in North Hills (Google Maps, Getty)
Parthenia Partners to build 55 apartments in North Hills
Parthenia Partners to build 55 apartments in North Hills
A photo illustration of Harridge Development Group CEO David Schwartzman and Highpark development in Palos Verdes (Getty, Harridge Development Group)
Harridge suit alleges unpaid work at Highpark project
Harridge suit alleges unpaid work at Highpark project
Ruixue “Serena” Shi and City of Coachella (Getty)
Developer sentenced to 20 years in prison for Coachella hotel scheme
Developer sentenced to 20 years in prison for Coachella hotel scheme
Diane Shammas and rendering of proposed Ford dealership (Pitzer College, Felix Chevrolet, Getty)
Shammas family plans New Ford dealership in DTLA
Shammas family plans New Ford dealership in DTLA
Octane Group’s Greg McLemore and the Arista Glendale building (Greg McLemore, Arista Glendale)
Luxe rentals ramp up in suburban Glendale
Luxe rentals ramp up in suburban Glendale
Councilman Jose Huizar (Charlie Kaijo/CC BY 2.0/via Wikimedia Commons, Getty)
Developer found guilty in LA City Hall bribery scheme
Developer found guilty in LA City Hall bribery scheme
Beverly Hills Mayor Lili Bosse and LVMH's Bernard Arnault with renderings of Cheval Blanc (City of Beverly Hills, Getty, Gruen Associates)
How much will LVMH pay Beverly Hills to build a hotel?
How much will LVMH pay Beverly Hills to build a hotel?
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...