The unveiling, due to take place at the Los Angeles Museum of Contemporary Art at 250 S. Grand Ave., will present a blueprint for redevelopment in the city's commercial core.
A list of governmental and private officials including L.A. Mayor James Hahn, Supervisor Gloria Molina; James A. Thomas, chief executive of Downtown-based Thomas Properties Group and chair of the Grand Avenue Committee; and Eli Broad, chairman of the Broad Foundation as well as co-chair of the Grand Avenue Committee, will present details of the three-phase Grand Avenue Project. Although details of the development have yet to be released, the Grand Avenue undertaking will include an enhancement of the civic park west of City Hall, an upgraded streetscape along Grand Avenue and the development of four neighboring land areas. The plan in general is designed to transform the civic and cultural districts of Downtown into a vibrant new center, showcasing entertainment venues, restaurants, shops, office buildings, a hotel and housing units. The plan will build on what many observers see as a downtown, where private developers have been acquiring antiquated office buildings and converting them to loft apartments that fill quickly with renters. Other housing and retail development is under way as well, with new restaurants, hotels and nightlife evolving in the city too.
Officials backing the Grand Avenue plan cite the more than 170,000 workers who populate Downtown daily, along with 41,000 residents in the immediate area and 5.8 million people living within 15 miles of the Grand Avenue Project area.
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