DOWNTOWN LOS ANGELES (CBSLA) — Architect Frank Gehry, billionaire philanthropist Eli Broad and civic leaders on Monday held a ceremonial groundbreaking for The Grand, a long-delayed massive development on Grand Avenue in downtown Los Angeles.

When it’s done, developers say The Grand will boast retail, residences and a hotel. The project will also feature public open space along Grand Avenue between First and Second streets.

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Gehry has drawn up iconic institutions in L.A. such as Walt Disney Concert Hall and The Broad museum.

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“No city in the world has such great architecture within four blocks,” said Broad. “And today we’re adding the crown jewel — The Grand by Frank Gehry.”

The development is scheduled to open to the public in 2021 and is expected to generate some 10,000 new jobs.

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