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Grand Avenue Project: Delayed
A rendering of the development area from 2005 | See a larger image of this here.
Eli Broad may be bringing his museum to Grand Avenue and a new civic center park may be underway , but the massive $3 billion Grand Avenue Project is not going to start in 2011 as planned. Developer Related Cos. wants a two-year extension on the start date, saying that obtaining financing in this weak economy is not panning out, according to the LA Times .
The project, if it ever comes to fruition, would bring a hotel, condos, restaurants, shops and art galleries to a handful of blocks between the Walt Disney Concert Hall and City Hall. A Frank Gehry-designed glass tower would be the architectural feature.
Government officials must approve the extension, which could mean a groundbreaking in February 2013 -- that is if they don't ask for yet another extension. Curbed LA hints that maybe the project should be given to a different company.
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But the game has changed: Congress voted to eliminate funding for public media across the country. Here at LAist that means a loss of $1.7 million in our budget every year. We want to assure you that despite growing threats to free press and free speech, LAist will remain a voice you know and trust. Speaking frankly, the amount of reader support we receive will help determine how strong of a newsroom we are going forward to cover the important news in our community.
We’re asking you to stand up for independent reporting that will not be silenced. With more individuals like you supporting this public service, we can continue to provide essential coverage for Southern Californians that you can’t find anywhere else. Become a monthly member today to help sustain this mission.
Thank you for your generous support and belief in the value of independent news.
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