Los Angeles Commercial Real Estate:
Grand Avenue Development Project
Los Angeles Commercial Real Estate Sees A Simple Start To A Bold Redevelopment Vision
Rather than sending shockwaves through the world of Los Angeles Commercial Real Estate and beginning the project with a huge commercial building, the new Grand Avenue Development Project just got off the ground with the opening of "Grand Park", a twelve acre area that replaces the old "Civic Center" with new and very attractive open space. BUT ... the project has begun, and there is much more to come, if they can get it right
Here's an article from the New York Times by Peter Slatin that describes the entire thing ...
"LOS ANGELES — Community leaders, real estate magnates and urban planners hope the Grand Avenue Development Project, which would add several million square feet of commercial and cultural space, will provide a center of gravity and excitement to an area of the city that has lacked both." ... NY Times
Los Angeles Commercial Real Estate Market Dictates What Comes Next
The original plans that the Grand Avenue Development Project put forth call for innovative use (for the area) combining multi-use commercial in a grand scale (pardon the pun). However, realities of the Los Angeles Commercial Real Estate market ... such as the almost non-existant condo market ... will force accommodations and compromises to be made. Here's hoping the developers will get it right ... and that the market supports them.
Los Angeles Commercial Real Estate.