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Huge Eighth & Grand Mixed-Use Site Sells, Work to Start By Fall

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Updated 12:50 pm: Well, well, well, looks like Downtown developer Sonny Astani was only securing approvals for the huge (but scaled-back) mixed-use project at Eighth and Grand in order to make a big ass sale to what is possibly a hyperintelligent development robot?--he's just offloaded the property to "a Colorado limited liability corporation called CPIVG8 for $63 million ... one of the most expensive land deals ever in downtown L.A.," reports the LA Times. CPIVG8 will probably start work in the next couple months (enormous sales! groundbreakings! the downturn is over!). The project is set to have 700 residential units, a 40 foot rooftop pool (with lounge and cabanas), about 36,000 square feet of retail space, nearly an acre of open space, and 737 parking spaces. The site is currently a parking lot.

· Property sale clears path for major apartment project downtown [LAT]
· Astani Back With Shrunken Eighth and Grand Mixed-Use Project [Curbed LA]

Eighth & Grand

770 South Grand Ave., Los Angeles, CA 90017