In the latest development of this ongoing story, Related Companies submitted the new conceptual plan designed by Gehry Partners to the Los Angeles Grand Avenue Authority earlier today, Nov. 25. The $650 million development addresses the three-acre block across the Gehry-designed Walt Disney Concert Hall, atop Grand Ave. between 1st and 2nd St. in Downtown L.A.
Here are more details about the new plan:
"Related Companies today submitted a new conceptual plan designed by Architect Frank Gehry for Parcel Q of the Grand Avenue project to the Los Angeles Grand Avenue Authority, a Joint Powers Authority of the County of Los Angeles and CRA/LA Successor Agency. The plan addresses the three-acre block directly opposite Gehry’s Walt Disney Concert Hall. It integrates retail shops and restaurants with a hotel and a residential tower set within expansive public spaces that connect gracefully to Grand Avenue and surrounding streets.
The conceptual plan designed by Gehry Partners weaves together the hotel, commercial, residential and entertainment uses around a welcoming central plaza that opens to Grand Avenue. Inviting public spaces and pedestrian connections span the site and provide easy access to nearby architectural icons -- Disney Hall, Cathedral of Our Lady of The Angels and The Broad -- as well as to the Regional Connector and Metro Red Line subway stops and Grand Park, the highly popular neighboring park financed and built by Related.
Gehry Partners has designed a gradual slope down to Olive Street through the central public plaza, spreading the dynamic mix of entertainment, dining and shopping over several carefully choreographed levels.
A distinctive tower at the corner of Grand and 1st is slated for a hotel of up to 300 rooms while a residential tower adjacent to 2nd Street envisions a mix of market rate and affordable apartments and condominiums. Rooftop pavilions and terraces throughout will offer expansive views.
'Our plan is to enrich what we consider the emerging arts and cultural district in Los Angeles,” said Gehry. 'What’s been missing is the excitement and fun of a hotel, nightclubs, restaurants, shops, places to hang out. Now our plan has the potential of becoming an incredibly dynamic partner to the Walt Disney Concert Hall and the other arts and cultural institutions on Grand Avenue.'
The JPA will now review the submitted plan and when approved, Related and Gehry will move to schematic design that will include architecture and a more refined master plan.
Related has a longstanding commitment to the Grand Avenue project and has made substantial investments toward its development. The company provided the funding and project management of construction for Grand Park through a $50 million advance payment on the 99-year base ground lease that underlies this block of county-owned land.
The park stretching four blocks from Grand Avenue to City Hall opened in July 2012 and, under program direction from the Music Center of Los Angeles County, has quickly become a great central gathering place for the region. Related also assigned its development rights to the parcel adjacent to Disney Hall to the Broad Foundation to enable development of The Broad and has construction well underway on a neighboring apartment tower that will complete the block and enliven the west side of Grand Avenue.
The Grand Avenue project will be a strong jobs creator. According to research by the Los Angeles Economic Development Corporation, Parcel Q will create 8,310 construction jobs and 2,240 permanent jobs. The full build-out of the project is estimated to create 20,500 construction jobs and 4,070 permanent jobs."