Grand Avenue Project: Delayed
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.