4 months ago
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A local developer is in talks to purchase the graffitied Oceanwide Plaza towers in downtown Los Angeles with the intention of finishing construction.
The unfinished project, which was abandoned in 2019, drew attention after taggers scaled the towers and created highly visible graffiti.
The Chinese developer Oceanwide Holdings may now sell the project for about $500 million in August or September, the Wall Street Journal reports.
The potential buyer, which has not been identified by the Journal, would probably need another $800 million to finish the mixed-use project.
In the meantime, the city of Los Angeles has had to pay millions to secure the site and remove the graffiti.
English (US) ·