Grand Ave. apartments are first built on Bunker Hill in more than a decade, says developer
The new apartment tower is expected to open around the same time as its neighbor, the Broad Museum.
DOWNTOWN LOS ANGELES — At a groundbreaking today at the site of what will be the new Grand Avenue apartments, city and county officials said the Grand Avenue Project would be a turning point for the neighborhood.
"The Grand Avenue Project is a game changer in the revitalization of downtown Los Angeles," said Mayor Villaraigosa in a statement. "These new apartments are a significant step forward as we continue to make downtown a vibrant place to live, work and play."
The $120 million apartment tower is nestled between Hope Street and Grand Avenue, next door to the also-in-development Broad Museum. The 271-unit structure is being developed by Related California, the same firm who bankrolled the now open Grand Park just a few blocks away.
Bill Witte, CEO and president of Related, said the apartments will help create a "seamless street front on Grand" and on Hope, there will be a publicly accessible plaza with access to multiple restaurants and a take-out location. The tower will also be close to the Regional Connector and the impending streetcar, conveniences both city officials and developers emphasized.
The 19-story building is described by developers as a white, rectangular prism with a contemporary design. It will feature "abundant glass" as well as "windows that change size and proportion across its white facade."
According to Related, the project will create 417 construction jobs and be the first apartment building erected on Bunker HIll in more than a decade. The apartments are expected to open in 2014, around the same time as the Broad Museum, which held a "topping-off" ceremony earlier this week to mark a turning point in the contemporary museum's construction.