DTLA – Downtown has been waiting for developer Related Companies’ project The Grand for almost 15 years. Now, there is finally evidence that it is happening Work crews have begun tearing down the “Tinker Toy” parking structure at the southeast corner of First Street and Grand Avenue. The structure, which has more than 1,000 spaces and is nicknamed for its resemblance to the creations fashioned out of the children’s toy, was finished in the late 1960s. It was fenced off this month after Related announced it had secured financing to start construction on the Frank Gehry-designed $1 billion project that will hold two towers with 436 residential units, a 309-room Equinox hotel and 215,000 square feet of commercial space. The lot had previously closed ahead of an expected groundbreaking in 2007, but The Grand was set back after the global financial collapse. The Grand is expected to open in 2021.