The Los Angeles City Council has agreed to spend millions to secure Oceanwide Plaza, an abandoned real estate project taken over by graffiti artists.
  • A Chinese firm started to build a massive tower plaza in Los Angeles but ran out of funds in 2019.
  • The Oceanwide Plaza towers are now mainly used by graffiti artists and base jumpers.
  • LA’s City Council estimates it’ll take $2 billion to buy the property and complete the project.
  • @Delta_V
    9•9 months ago

    Can it actually be turned into something that’s worth 2 billion, or would spending more on it just be chasing a sunk cost?