Billionaire Stephen Ross’s Related Cos. new project in the sleepy end of downtown Los Angeles is designed to invigorate Grand Avenue the way its Time Warner Center helped energize New York’s Columbus Circle.
It took just one 15-minute phone call in July to persuade Ifei Chang to join Shanghai-based developer Greenland Holding Group Co. and lead a U.S. expansion. Within three months, she was running $6 billion of projects as part of a record push by Chinese investors into American property.
Blocks from the boutiques of Rodeo Drive, Mark Elliot navigated his bicycle over the cracked asphalt of Santa Monica Boulevard, dodging nails, discarded tools and a few sewer grates. Ferraris and Maseratis whizzed by, nearly pinning the 49-year-old against a fence.