Construction Halted on Mega Residential-Commercial Complex... Left Abandoned for 5 Years
Over 10 People Arrested for Graffiti Acts

A large-scale mixed-use residential and commercial building, which was scheduled to be built in downtown Los Angeles (LA), USA, has become a nuisance after being abandoned. Recently, it has been reported that graffiti acts?mainly drawing pictures or leaving letters and other marks in public places?have been occurring repeatedly.


On the 2nd (local time), the Los Angeles Police Department (LAPD) announced, "At around 12:43 a.m. on the 30th of last month, we received a report of vandalism at a high-rise building in downtown and dispatched officers."


The local daily LA Times reported that the building is called "Oceanwide Plaza," whose construction was halted in 2019.


The LAPD Air Support Division conducted a search and captured evidence of about 10 people spray-painting on the walls inside the building. However, when the patrol arrived, most suspects had fled, and two were arrested on charges of trespassing on private property. They were taken to the police station, fined, and then released.


Street photographer Darren Burgundy told local broadcaster KTLA, "Dozens of people have been continuously working at Oceanwide Plaza over the past few days." Based on aerial footage filmed directly, KTLA reported, "All 27 floors of this building are covered with graffiti."


Graffiti painted on the exterior wall of a building. Photo is not directly related to the article content.

Graffiti painted on the exterior wall of a building. Photo is not directly related to the article content.

View original image

Oceanwide Plaza is a large-scale mixed-use residential and commercial building project promoted by Oceanwide, a developer headquartered in Beijing, China, with an investment of over $1 billion (approximately 1.34 trillion KRW). Originally, Oceanwide planned to build three high-rise towers, including a Hyatt hotel with 184 rooms, on the site across from the Crypto.com Arena (formerly Staples Center) in downtown LA. This area is a key district in downtown, lined with the LA Convention Center, Grammy Museum, popular restaurants, and shops.


However, the project was halted as Oceanwide faced financial difficulties. It is known that Oceanwide’s abandonment of the plan is related to the Chinese authorities tightening regulations on excessive business investments. Analysts suggest that the need to pour in an additional $1.2 billion or more into a project that had already received over $1 billion in investment became a stumbling block.


In 2022, Oceanwide decided to sell Oceanwide Plaza, and although several construction companies showed interest, rising construction costs prevented them from proceeding, according to reports. As a result, Oceanwide Plaza has been left unfinished for five years, with the tallest building constructed up to the 55th floor, causing displeasure among citizens.



Meanwhile, the LAPD stated, "The graffiti will be removed soon," and said they plan to meet with city administrative authorities and the building’s management company to discuss and implement measures to strengthen the building’s security.


This content was produced with the assistance of AI translation services.

© The Asia Business Daily(www.asiae.co.kr). All rights reserved.

Today’s Briefing