Los Angeles, CA – Related Companies today announced the selection of Los Angeles-based AECOM (NYSE:ACM), a premier, fully integrated global infrastructure firm, as construction manager for The Grand, the Frank Gehry-designed, mixed-use development in downtown Los Angeles on Grand Avenue across from The Broad museum and Walt Disney Concert Hall. A visionary public-private partnership, guided by the Los Angeles Grand Avenue Authority, The Grand is designed to revitalize Downtown Los Angeles’ cultural and civic core with a mix of commercial, retail, cultural and residential units featuring grand public spaces and world-class architecture. Construction on The Grand is poised to commence in Fall 2018. Related also released new renderings of the project detailing the dynamic residential, retail, entertainment and public spaces that make up The Grand.
“AECOM is an undisputed leader in construction and has the know-how to bring Frank Gehry’s incredible design to life. They have a deep understanding of Los Angeles and an experienced local team which makes them an ideal fit for this compelling project,” said Rick Vogel, senior vice president of Related Urban. “Their selection is another key milestone in the forward momentum of Grand Avenue and a Fall groundbreaking. Related continues to appreciate the collaboration of our joint venture partner, CORE, and the Grand Avenue Authority as we realize the full potential of Grand Avenue.”
Michael S. Burke, AECOM’s chairman and chief executive officer said, “Related is dedicated to achieving the highest standards of design and development, and it is an honor to extend our longstanding relationship with them into our hometown of Los Angeles. We are proud to leverage our leading construction expertise on this prestigious project with world-class partners that contribute to the continued redevelopment and renaissance of downtown Los Angeles.”
Designed by world-renowned architect Frank Gehry, The Grand will include a dynamic mix of retail, hotel, dining, entertainment and residential opportunities anchored by a central public plaza above five levels of parking. The 209,000-square foot space will include destination restaurants and shopping spread among a series of landscaped open terraces along with a movie theater complex and a 20-story, 314-room Equinox® Hotel. The residential component will be a 436 unit, 39-story tower.
To date, Related has invested $240 million in the success of the Grand Avenue Project, including previously completed phases. Related has funded and developed Grand Park, Downtown Los Angeles’ new iconic public and cultural space; developed The Emerson, the first new residential building in the Bunker Hill neighborhood in decades; and helped to facilitate The Broad museum. In 2016, Related entered into a joint venture partnership with CCCG Overseas Real Estate Pte. Ltd. (CORE) for this next phase of The Grand.