A major step in the future of Downtown Los Angeles is scheduled for Tuesday, Feb. 13, when both the Los Angeles City Council and the County Board of Supervisors are set to vote on the $2 billion Grand Avenue plan.
The first phase of the project would bring two Frank Gehry-designed towers, a 16-acre park, shops, restaurants and about 500 housing units to three blocks of county and city land on the top of Bunker Hill. Related Cos. said construction of the initial phase could start this October and wrap in 2011. "This marks a major milestone for Grand Avenue in our mission to create downtown Los Angeles' premier destination," said Related Chairman and CEO Stephen M. Ross.
Downtown Los Angeles is in the midst of a renaissance. Land and condominium values are increasing as developers and retailers continue to move into the nation's "hottest" redevelopment market in order to create a brand-new, revitalized city. With over 52 years of combined Downtown Los Angeles experience, the Los Angeles Urban Redevelopment Group offers clients a full-service urban in-fill brokerage team that specializes in the areas of:
- Entitled/Un-entitled Land Sales
- Historic Property Repositioning
- Mixed-Use Redevelopments
- Urban Retail/Restaurant Opportunities
By pairing the global platform of CBRE along with the team's collective Downtown expertise and relationships, the Los Angeles Urban Redevelopment Group has continually provided Landlords, Buyers, and Retailers/Restaurateurs with the most intimate and up-to-date market knowledge to help identify tomorrow’s opportunities today.
The Los Angeles Urban Redevelopment Group's unmatched track record in Downtown spans from the pioneering sale of the first major loft conversion at the Historic Bank District, the 1½ city block Gas Company land assemblage, and the placement of the first major supermarket in Downtown in over 45 years – a 50,000 square foot Ralphs grocery store. Each of the aforementioned transactions have one common thread: the Los Angeles Urban Redevelopment Group defied what current market conditions were dictating and uncovered value for both sides of the transaction based upon our insight into the upside of Downtown Los Angeles.
With offices headquartered in Downtown, the Los Angeles Urban Redevelopment Group is not only based in the submarket, they have been residents there for a combined 23 years. Members of the team have sat on the Downtown Neighborhood Council, Downtown Property Owner's Association, and the Historic Core Representative Project Area. We work with the City's political decision makers on a daily basis. We facilitate the approval process for our developer clients by pre-selling their projects to our community and to City council members. And we're committed to achieving the best value possible for our clients.
www.laurg.com - Downtown Los Angeles Redevelopment Experts
