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Breaking: Grand Avenue Project Construction Delayed Until 2009

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The Downtown News breaks the story of another round of delays at the Frank Gehry-designed Grand Avenue Project. Project developer Related Cos. announces that construction on Phase I is now set for February 15, 2009, nearly a year and a half later than initial groundbreaking projections. Despite securing $100 million from Dubai-based Istithmar, a larger construction loan has proved impossible to obtain. Good news for parking lovers: According to Related of California President Bill Witte, the tinker-toy parking structure atop Bunker Hill may be reopened until next year's groundbreaking. Think it'll ever get built?
· Grand Avenue Construction Pushed to 2009 [Downtown News]