Crews have begun cleaning the giant graffiti off the abandoned Oceanwide Plaza skyscrapers in downtown Los Angeles that added a stunning — and, many say, embarrassing — splash of color to the downtown Los Angeles skyline.
In early 2024, taggers clambered over broken fencing and into the towers near Crypto.com Arena and the 110 Freeway, brazenly spray-painting images hundreds of feet in the air. Some lowered themselves by ropes from the top of buildings that are 42 and 54 stories tall after climbing stairs to the roofs.
But the illicit art is only part of the operatic tale of the literal rise and metaphorical fall of what have become informally known as the graffiti towers.
A stunning real estate meltdown
“I have been covering commercial real estate in L.A. since the mid-1980s, and I have never seen a high-rise project meltdown anywhere close to this scale,” L.A. Times commercial real estate reporter Roger Vincent told me.
Vincent has reported that the site was a sprawling asphalt lot used for event parking when Beijing-based Oceanwide Holdings bought it in 2014. The trio of high-rise towers was intended to house luxury condominiums, apartments, a five-star Park Hyatt hotel and an indoor mall that would include deluxe shops and restaurants. A massive electronic sign on its facade was to bring a flavor of Times Square to Figueroa Street.
Oceanwide spent about $1.2 billion on the project before running out of money in 2019.
Vincent told me: “Usually, commercial projects fail before they get off the ground because they can’t get financing, or they are completed and the developer sells at a loss if he can’t cover his debts. Oceanwide got 60% done, which meant developers finished the shells of the buildings but had done no work inside. That’s very unusual.”
Abandoned buildings to mural and back
An aerial view of graffiti covering Oceanwide Plaza with Crypto.com Arena in the background.
(Allen J. Schaben / Los Angeles Times)
Some Angelenos and visitors were inspired by the audacity and skill of the graffiti artists. BASE jumpers parachuted from them, and a performance artist recorded himself teetering along a one-inch-wide slackline strung between two of the property’s 42-story towers.
But Vincent said “it’s safe to say that business leaders and most residents are thrilled to have the graffiti being removed.” The big, bright tags were “applied unchecked and stayed there for years, which implied a sense of lawlessness downtown,” he said.
Cassy Horton, co-founder of the Downtown Los Angeles Residents Assn., told Vincent: “The Graffiti Towers have worldwide infamy at this point. It’s like this beacon that shines and says, ‘Come create mischief down here and you won’t get in trouble.”
It will take about 90 days to clean the towers, Vincent told me. Some of the work is physically risky and will require crews being lowered in suspended scaffolds known as swing stages used by window cleaners.
What next?
The development is being purchased by a partnership led by Kali P. Chaudhuri, whose KPC Development Co. owns and builds commercial properties in California and India, along with Lendlease, the original contractor for the project.
Vincent told me the buyer plans to finish the project as planned, with 504 residential units, a luxury hotel and a shopping center.
Today’s top stories
A driver buys gas at a gas station in Long Beach.
(Arwen Clemans / Los Angeles Times)
L.A. gas prices are crazy again
- With L.A. County gas prices on the rise, some locals seek out the cheapest gas they can find.
- The cheapest stations were charging just under $5 a gallon this week, while the most expensive ones were charging about $7. That’s more than 25% in potential savings.
Southern California’s next heat wave is expected to be a doozy
California’s largest labor union declines to back Proposition 40
- California’s largest SEIU affiliate declined to endorse a one-time, 5% tax on the assets of California’s billionaires.
- Teacher, police and firefighter unions argued the tax would primarily benefit the healthcare sector and could destabilize the state budget.
What else is going on
Commentary and opinions
This morning’s must-read
Another must-read
For your downtime
The Perseids meteor shower from Miter Basin in Sequoia National Park.
(Los Angeles Times photo illustration; photo by Jeremy Evans)
Going out
Staying in
Question of the day: What are your favorite summer destinations in California?
William B. says: I have only one favorite summer destination in California. I’ve had this favorite destination for 50 years now. It’s the City of Angels, Los Angeles, which has so many fun things to do every summer.
Email us at [email protected], and your response might appear in the newsletter this week.
And finally … the photo of the day
Groundbreaking at the Watts Towers Arts Center Campus begins in August on a $22-million renovation of the facility, one of Los Angeles’ most important cultural landmarks.
(Eric Thayer / Los Angeles Times)
Today’s great photo is from Times photographer Eric Thayer at the Watts Towers, which is getting a $22-million campus renovation.
Have a great day, from the Essential California team
Hailey Branson-Potts, staff reporter
Hugo Martín, assistant editor, Fast Break desk
Kevinisha Walker, multiplatform editor
Andrew J. Campa, weekend writer
Karim Doumar, head of newsletters
Shi Bradley, audience intern
How can we make this newsletter more useful? Send comments to [email protected].
