| has gloss | eng: The Grand Avenue Project (along with LA Live) is a project currently under development designed to revive downtown Los Angeles. The $3 billion project, which is to be built on Grand Avenue next to the Walt Disney Concert Hall, is designed to give Los Angeles a thriving city center. It has been compared to, and is intended to be, the L.A. version of the Champs-Élysées of Paris and the Central Park of New York City. The location is deemed a logical place to build such a project since about 5.8 million people live within 15 miles of the Grand Avenue Project according to the Grand Avenue Committee. The project will create over 5,300 long-term jobs and will generate over $95 million annually in taxes for all levels of government, with the (Los Angeles) county receiving $2.3 million and the city receiving $5.8 million per year. On February 14, 2007 both the Los Angeles City Council and the Board of Supervisors approved the project, and officials originally hoped to break ground in December 2007. However, the construction has now been postponed until as late as February 2009. . If construction is delayed beyond that point the developer will be forced to pay $250,000 per month. |