- 20% of units will be affordable. In total, 532 affordable units are planned to be built over several phases.
- priority for rental units will be given to displaced residents.
- a $750,000 to $1,500,000 revolving loan fund will be established for nonprofits developing affordable housing in the area.
- $50 million will be allocated for the redevlopment of the existing county mall into a 16 acre public park (dubbed the "new 'Central Park' of Los Angeles by the Authority). The project itself will also include outdoor public spaces with seating, public art and landscaping.
- streetscape improvements will be made along Grand Avenue, including tree plantings, landscaping, paving, the installation of benches, trash cans, street graphics and lighting.
- there is a minority-owned contracting goal of 25%.
- there is a local hiring goal of 30% for construction and permanent jobs. Of the local employees, 1/3 are to be targeted for low income and at-risk individuals. The developer will be required to use a first source notification procedure so that local residents receive early notification of job openings.
- the developer will provide $500,000 for support training to ensure that local workers have the skills necessary to secure these jobs. An additional $500,000 will be provided by the CRA for job training.
- all construction jobs will provide living wages, and other parties contracting or leasing property from the Authority will be required to comply with the city's living wage and service worker retention policy.
The project received final approvals in 2007 and is expected to be completed around 2018.
Lots of information about the project is available on the Grand Avenue Committee's website.