Having been in the works since 2004, the proposed $1 billion complex has faced various delays and funding hurdles over the last 14 years despite the project’s high-profile status. When initially envisioned by architect Frank Gehry and developer Related Companies, the mixed-use high-rise complex was considered a marquee development that would anchor a forthcoming, multi-block arts and entertainment district. But as delays piled up, smaller ancillary projects like the Diller Scofidio + Renfro–designed Broad Museum and The Emerson, a 19-story apartment tower, came online first. Now, instead of starting up the district’s transformation, the complex might end up capping it off.
After laying dormant for years, the project stirred back to life in 2017 after Chinese real estate firm CORE infused the development with $290 million in much-needed financing. In a surprise move, the developers filed for construction permits in August 2017. This week, the Related Companies announced it has amassed the $630 million needed in financing for the project, The Los Angeles Times reports, indicating that construction could begin as soon as the end of this month.
If the timeline sticks, the complex is due to finish construction in 2021 and will eventually feature a 430-seat cinema, a 309-room hotel, and a 39-story residential component with 113 condominiums and 323 apartments, 20 percent of which will be subsidized.
Renderings unveiled earlier this year depict a block-long terraced complex that steps back from the street as it rises. A pair of deconstructed, multi-faceted towers rise on either side of a central retail corridor. The project’s three above-ground podium levels front the Disney Hall and are shown brimming with retail and restaurant establishments in renderings. These spaces feature broad, open-air shopping terraces and a central courtyard designed with seating areas and a sculptural awning.
The two-tower complex will join a growing number of mixed-use developments that are on the way to sites scattered around the Grand Avenue district and the adjacent Civic Center area. City and private entities are working across these areas in an effort to break down the mono-functional post-war zoning plans that reshaped Downtown Los Angeles during the 20th Century and severed much of its residential uses.
Other residential projects on the way nearby include a mixed-use tower from Gensler, a pair of condominium towers from AC Martin, as well as a new park designed by Office of Metropolitan Architecture and Studio-MLA.