Related Cos. has selected Aecom as construction manager for The Grand, the $1 billion Frank Gehry-designed, mixed-used development on Grand Avenue in downtown Los Angeles.
The selection of the Century City-based engineering firm means a local business will have a significant say in the oft-delayed project, which is slated to begin in the autumn of this year.
Related won the contract to building The Grand back in 2004, which calls for residential, retail and entertainment located across the street from Walt Disney Concert Hall.
The Great Recession helped delay The Grand, which is be comprised of 209,000 square feet including a movie theater complex, a 20-story Equinox hotel and a residential tower that is 39 stories and 436 units.
Rick Vogel, Related Urban senior vice president, said in a statement that Aecom’s selection “is another key milestone in the forward moment of Grand Avenue.”
Aecom Chairman and Chief Executive Michael Burke said in a statement that his company’s selection as construction manager was “an honor.”
Aecom shares fell slightly – 0.1 percent – to $39.17 a share in Monday’s trading.
Staff Reporter Ciaran McEvoy can be reached at email@example.com or (323) 556-8337.