Well, this thing is certainly not off to a great start. The city-county board overseeing the $3-billion Grand Avenue project has turned down a request by developer Related Cos. for an eight-month delay in the project. Itís just the latest of several financing-related delays. Related now has until Aug. 15 to begin construction across from the Walt Disney Concert Hall (though it sounds like there's some wiggle room to move back the date). From the LAT:
The vote is the strongest sign yet that government officials are skittish about the prospects for the massive development in downtown L.A., and that they hope to keep a tight rein on the developer they handpicked for the project almost four years ago. One county supervisor, Mike Antonovich, is even suggesting that the sprawling Frank Gehry-designed project should be scaled back because of real estate market conditions. "Given the stark economic climate," said Paul Novak, a planning deputy for Antonovich, "our best approach may be less of a 'grand' vision than the plan previously approved by the county and the city."