December 19, 2016 Comments Off on Related Welcomes $290M Infusion from New Chinese JV Partner Views: 436 California News, Los Angeles, West

Related Welcomes $290M Infusion from New Chinese JV Partner

Related Companies introduced a new joint-venture partner and an updated development timeline for the proposed $950-million Grand Avenue project in DTLA. LA’s City Council found favor with both changes.

Chinese firm, CCCG Overseas Real Estate Pte. Ltd, (CORE), is investing $290 million in the mixed-use project, which will be its first major project in the U.S. CORE is the real estate arm of the China Communications Construction Group.

The long-delayed development is now slated to break ground in 2018, and open in 2022. The Frank Gehry-designed project is proposed to include a residential tower with up to 450 units, a 300-room Equinox hotel, as well as 200,000 square feet of retail and restaurant components and a large public plaza along Grand Ave.

*Gehry Partners Rendering

Read more at Downtown News

Connect With Related’s Kenneth Himmel

For comments, questions or concerns, please contact Dennis Kaiser

Share on FacebookTweet about this on TwitterShare on LinkedInEmail this to someone

Tags: , , , , , , ,

Comments are closed.