DOWNTOWN LOS ANGELES — A lot of people are watching Grand Avenue, where Eli Broad’s $140 million art museum is under construction and Related Companies’ mixed-use mega-project The Grand is in the planning stage. However, the next addition to the street will actually be a 19-story luxury apartment tower.
Bill Witte, president of Related California, said the 271-unit rental building, dubbed The Emerson, will open on Oct. 1. No rental rates have yet been revealed.
The $120 million edifice just south of The Broad will set aside 20% of its residences as affordable housing.
Amenities in the building designed by Miami-based Arquitectonica will include high-end finishes, a rooftop pool and a full business center. There will also be a dog run in the rear of the property.
Officials previously said that the building will contain a ground floor restaurant, an offshoot of the Beverly Hills Italian eatery Ago. Emerson residents will also have easy access to the coming restaurant that will be in The Broad’s public courtyard.
As that project nears the finish line, Related continues the planning work for the $650 million The Grand. Witte recently said Related is working on refining schematic designs for the project with architect Frank Gehry, and that those are due to be submitted to city and county officials by the end of September
Copyright 2014 Los Angeles Downtown News