New Owners Take Over the Notorious Graffiti Tower in Downtown LA
City Officials Demand Graffiti Cleanup Following Sale of Iconic Skyscrapers
City officials are calling for immediate action to clear "eyesore" graffiti from the recently sold downtown Los Angeles skyscrapers, now under new ownership.
The Oceanwide Plaza development, often referred to as the graffiti towers, has been sold to a joint venture between KPC Group, based in Southern California, and Australia’s Lendlease. This announcement follows two years of bankruptcy proceedings, culminating in the approval of a purchase and sale agreement by the bankruptcy court. The property consists of three high-rises, condominiums, and retail space situated on Flower Street, directly across from Crypto.com Arena.
Construction on Oceanwide Plaza has been stalled for several years after its previous owner, Oceanwide Holdings, defaulted on debts related to the project, leading to foreclosure and subsequent bankruptcy.
Dr. Kali P. Chaudhuri, Founder and Chairman of the KPC Group, expressed optimism about the deal, stating, “We are excited to move forward with a catalytic investment that creates a path to turn around a key part of Downtown LA. We are eager to work in partnership with the City of Los Angeles and the Downtown community to move quickly on what is truly a keystone project for Downtown revitalization and that will deliver economic benefits across the region.”
Mayor Karen Bass, along with Councilmember Ysabel Jurado and other city stakeholders, called on the new owners to "clean and secure the property as soon as they take possession." In a statement, Mayor Bass remarked, “Right in the heart of downtown Los Angeles, the blighted Oceanwide Plaza has been an eyesore for too long due to failed ownership. With the resurgence of our Downtown and as we prepare to host Olympic and Paralympic events right across the street, I look forward to working with the new ownership to transform this plaza into something that spurs further investment – and that Angelenos can be proud of.”
Over the last few years, the abandoned towers have attracted a range of activities, including base jumpers and even a performance artist who walked a tightrope between two of the buildings. The site has also seen individuals expressing their attachment to the iconic structure, with one person getting a tattoo of the building on his back.
The Los Angeles Police Department has dedicated extensive resources to address issues surrounding the unfinished towers, using thousands of hours to deter artists and vandals. Former LAPD Chief Michel Moore commented in February 2024, “This has strained our deployment. We have called in some officers on an overtime basis, so that we can provide for these added patrols or station them at that site to deter vandals and others from gaining access to it while also ensuring that we meet the minimum deployment requirements for stations across the city.”
The new owners have indicated that they will provide more details about the future of the towers once the court filings are finalized and the approval process advances.
