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- เผยแพร่เมื่อ 27 มิ.ย. 2024
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The Oceanwide Plaza towers, once set to be the largest mixed-use development in downtown LA, have faced numerous challenges, including poor US-China relations and a volatile real estate market. Construction began in 2015 but halted multiple times due to financial issues and lawsuits. By 2023, the project faced foreclosure and was listed for sale, needing significant investment to complete. Vandalism and graffiti in 2023/2024 further tarnished its reputation. Despite its uncertain future, there's hope that a new buyer can transform the site to meet current real estate demands, possibly involving smaller apartments and rethinking retail space.
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Abandoned buildings are so fascinating
Great video. As an architecture/skyscraper fan it hurts to see such buildings rot away in the skyline like it was Caracas or Baghdad especially at one of the most prominent sites in America, across the street from the Staples Centre and LA Convention Centre... It would be nice to see a private-public partnership to add hotels, AFFORDABLE housing and more upmarket options to give it an economically balanced traffic base on which to fill the base retail units... Honestly this is where a bit MORE government intervention is probably warranted..
You forgot Las Vegas. When an recession hits, all construction comes to a halt. The Fountainbleu came to halt 10 years ago and they finally finished it, all 64 floors.
Hopefully all these project that are beneficial to the community gets done
It will in the next decade… Looks like LA took a page out of Miami DT book… So ill guess theyll continue to complete these future renderings in 2030s
Anyone buying that development would be wise to have engineers thoroughly inspect the structure and foundation to make sure it’s not typical Chinese tofu dreg construction and materials
California needs more affordable housing and what do they do ....Build shoe box sized apartments worth millions of dollars which won't make the surrounding area more affordable . Building more housing isn't going to lower the cost because these companies use a software made by real page which artificially inflates the value of that property.
BLAME THE CONTRADICTIONS OF CAPITALISM....!.
I hope an investor comes and modifies it.
Building this expensive complex within a marginal neighborhood is perhaps a very bad investment!
Crime and gang activity is very common and present surrounding this area!
Any potential convention and retail activity is on a significant decline in the general downtown area! Vandalism is an indisputable indication of eventual failure!
Good video...sad state of affairs
Downtown LA is the ghetto. Why would you build billion dollar skyscrapers in the ghetto?
informative and well researched!! Thanks
Apple should buy it.
This is what happens when you have spineless city politicians who do not aggressively go after the Chinese developer. The entire site needs to be demolished, and the empty site sold off to a reputable US developer who will be held responsible for any future site abandonment. This abandonment is appalling and should never have been allowed to happen!
The original plans looked nice.
Chinese money is dumb money. Nobody wants to live in downtown LA. They want to live on the west side. There must be a dozen similar developments in Dallas under construction right now but in areas where everyone wants to live or stay and no silly malls or garish LED screens. Just classy buildings with nice walkable landscaped spaces to enjoy so they have no trouble selling them out. LA is saturated with mini-malls which I could never figure out because it has such great weather. Who wants to shop indoors?
if they ever finish the building they should incorporate some of it into the design if they sort out the offensive stuff.
Make it into the worlds largest homeless shelter.
Are you attempting to be witty? A miserable fail on your part.
So they can do drugs in luxury? 😆
Yup
@@Lazlo. make it a rehab center. And put them in there whether they like it or not. And make homelessness and drugs illegal.
This will never work I’ve done work with the council in London where they give homeless people houses and no matter how good intentioned they can’t look after a property and just smash it up in a few days. You put homeless people in a big building it’ll be such a bad move.