LOS ANGELES-The Related Cos. of New York, which maintains its local headquarters in Irvine, won the exclusive right to negotiate with the Grand Avenue Committee on an estimated $1.2 billion of development that could include up to 3.2 million sf of new projects in Downtown. The authority named the development team Monday as the finalist in a competition that began in October among a host of companies vying for the deal.The next step is a “broad community outreach program to solicit input on potential uses” for the high-profile project on Grand Avenue, the authority says. The development may include retail, office and residential projects and will occur on four properties owned by the County of Los Angeles and the Community Redevelopment Agency of the City of Los Angeles. The parcels are located on and around Grand Avenue including property adjacent to the Walt Disney Concert Hall.

The vote by the Grand Avenue Authority follows months of review and discussion with the Related Cos. and Cleveland-based Forest City Development, the two teams which were chosen in May from a longer list of development teams that began vying for the job in October. The Grand Avenue Authority is a joint powers authority formed by Los Angeles County and the Community Redevelopment Agency. It is overseeing the development of Grand Avenue and the creation of a 16-acre grand civic park connecting City Hall and the Department of Water and Power Building.The Related Companies has been developing in California since 1989. Its team for Grand Avenue includes John C. Cushman III; MacFarlane Partners; Skidmore, Owings & Merrill LLP; Morphosis; Elkus/Manfredi Architects Ltd.; Gustafson Guthrie Nichol Ltd.; Levin & Associates Architects; Suisman Urban Design; Biederman Redevelopment Ventures Corp.; Richard Koshalek; Lee Andrews Group, Inc.; Merry Norris Contemporary Art; Polis Builders, Ltd.; Saybrook Capital LLC; Manatt, Phelps & Phillips LLP.

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