Grand Avenue project delayed -- again

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The off-again, off-again ground-breaking for the big Grand Avenue project in downtown Los Angeles has been delayed again. Now delayed until early 2009, if construction financing can be arranged. That is a big ‘if.’

From LATimes.com: ‘The developer of the massive Grand Avenue project said Monday that completion of the $3-billion redevelopment effort will be delayed until 2012 because of difficulty in obtaining construction loans amid the real estate downturn. ... Bill Witte, head of Related California, said he now believes that construction will begin in the first quarter of 2009 and emphasized that the project is not in jeopardy.’

From LA Downtown News: ‘Initially, Related intended to begin construction on the project in October 2007, but the schedule has been pushed back multiple times.’ The delay is a new lease on life for a previously doomed parking garage that was closed and scheduled to be demolished last month, but is now likely to reopen, LA Downtown News reports.

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