Rising Chairman Nelson Rising joined an All-Star panel during the Groundbreaking of The Grand, the Frank Gehry designed mixed-use development bringing new shops, restaurants, entertainment, open space, residences and an Equinox® Hotel to Downtown Los Angeles. Nelson Rising also served as an opening speaker for the event which hosted luminaries such as Los Angeles Mayor Eric Garcetti, County Supervisors Hilda Solis, Mark Ridley Thomas, and Kathryn Barger, and hundreds of attendees.
Joining Nelson Rising on the panel, moderated by KCRW's Frances Anderton, was philanthropist Eli Broad, Related Companies Chairman Stephen Ross, and architect Frank Gehry.
The Grand is the result of a collaborative public-private partnership, guided by the Los Angeles Grand Avenue Authority, a joint powers authority compromised of the County of Los Angeles, the City of Los Angeles, and the former Community Redevelopment Agency of the City of Los Angeles (CRA/LA).
In 2007, Nelson Rising succeeded Eli Broad as Chairman of the Grand Avenue Authority.
"Nelson is an old friend--and gave us the confidence to keep going forward. Nelson's efforts on the ground there was fantastic and it shouldn't be overlooked," said Ross during the panel. "When we talk about what everybody else has done, Nelson was always there supporting us and making sure that we understood Los Angeles and the importance of what we were doing."
Nelson Rising is a member of the Board of Directors and Executive Committee at The Irvine Company, a member of the Board of Trustees and Executive Committees of the California Institute of Technology and the W.M. Keck Foundation. In addition to co-founding Rising Realty Partners, Nelson has also led two large publicly traded real estate companies, chaired the Federal Reserve Bank of San Francisco and built some of the most iconic buildings and new communities in California and the West. He is Chairman Emeritus of The Real Estate Roundtable, a federal advocacy group that addresses key national policy issues relating to real estate and the overall economy. His son, Christopher Rising, is Chief Executive Officer of Rising Realty Partners.
Located at the epicenter of The Broad museum and Walt Disney Concert Hall, The Colburn School of Music and the Museum of Contemporary Art, The Grand is designed to become a 24-7 destination for shopping, dining, and entertainment, as well as a paradigm-shifting place to live. The Grand will include over 200,000 square feet of retail space anchored by chef-driven restaurants and a collection of shops; a movie theater complex; an Equinox Hotel®; and more than 400 residences including affordable housing. The development will also include a large, vibrant public plaza with a series of landscaped, open terraces.
The Grand is being developed by Related Companies in partnership with CORE USA, a joint venture of China Harbour Engineering Company and CCCG Overseas Real Estate (CORE). The start of construction is the most recent milestone achieved by Related in the Grand Avenue redevelopment, which included funding and completion of the widely-heralded 12-acre Grand Park (completed 2012), and the opening of The Emerson residential tower (completed 2014).