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Grand Ave Stuff... GEHRY! GEHRY! GEHRY!

So we missed out on the big announcement this morning - we're desk jockies, afterall. But our good friend Carolyn Kellogg from LAist was going to try and make it. We're hoping she'll have an update for all of us soon. In the meantime, we have the press release via BusinessWire. Here's a snippett:

Grand Avenue Committee, Related Companies Unveil Gehry Design for Phase 1 of New $1.8 Billion Downtown Community with Residences, Hotel, Retail, Public Amenities in Cultural District
LOS ANGELES--(BUSINESS WIRE)--April 24, 2006--The Grand Avenue Committee and The Related Companies today unveiled a dramatic initial design by Frank Gehry for the 1.2 million-square-foot, $750 million mixed-use neighborhood that comprises the first phase of the highly anticipated Grand Avenue plan. Set on a full city block of three acres directly across the street from Gehry's signature Walt Disney Concert Hall, the first phase will bring a world-class hotel, residences, retail, restaurants and public amenities to the city's cultural center. It will create a destination that is pedestrian-friendly and attractive to residents and visitors.

The bold design features two towers and 250,000 square feet of retail spread across the site that creates a strong street-level experience. A 50-story iconic tower at the corner of Second and Grand will house an approximately 275-room, world-class hotel and 250 condominiums on the upper floors. At Olive and First Streets, a 25-story residential tower will feature 150 lofts and condominiums along with 100 affordable apartments.

Pics and more to come soon.
· Press Release: Grand Avenue Committee... [BusinessWire]