Major downtown LA development project underway

Architect Frank Gehry, billionaire philanthropist Eli Broad and civic leaders have held a ceremonial groundbreaking for The Grand, a long-delayed massive development on Grand Avenue in downtown Los Angeles.

Broad told attendees Monday that the project stems from a vision of Grand Avenue becoming the arts, cultural and civic district for the region.

The mixed-use development with residential, retail, entertainment and hotel space around a public plaza will rise near the Gehry-designed Walt Disney Concert Hall, the Music Center, the Museum of Contemporary Art, The Broad Museum and The Colburn School of Music.

Advocates say it will generate 10,000 jobs.

The project is being developed by New York Citybased Related Companies and CORE USA, a joint venture of China Harbour Engineering Co. and CCCG Overseas Real Estate.