(Read more on the multifamily market.)
LOS ANGELES-The Related Cos. of New York City has startedconstruction on the first phase of the $3 billion, 3.6-million-sfmixed use development called "the Grand," designed by architectFrank Gehry. Spanning three city blocks, the Downtown Los Angelesproject is one of the largest of its kind in the country.
Phase one of the development will occupy a full city blockbordered by Grand Avenue, Olive, First and Second streets. It willtotal 1.3 million sf and will feature a mix of hotel andresidential towers, retail, restaurants, entertainment/nightlife,and public amenities.
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