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View Full Version : LOS ANGELES | Oceanwide Plaza | 677' - 49 FLOORS | 2X - 530' - 40 FLOORS | ON HOLD


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timpdx
Mar 23, 2016, 3:40 AM
Wasting no time

http://i.imgur.com/NaK19qI.jpg

http://i.imgur.com/gE1v4AV.jpg

http://i.imgur.com/lxqoezb.jpg

http://i.imgur.com/qZtTs9r.jpg

http://i.imgur.com/0drNxtw.jpg

Steve8263
Mar 23, 2016, 3:29 PM
The foundation pours scheduled for this month obviously haven't happened yet. Looks like they are close to being ready for the tallest tower concrete tho.

cesar90
Mar 28, 2016, 8:40 PM
http://i.imgur.com/hAwqKr7.jpg

King Kill 'em
Apr 4, 2016, 2:11 AM
yBTGOcbbDXs

blackcat23
Apr 6, 2016, 3:54 PM
Inside Oceanwide Plaza's Huge Concrete Pour (http://urbanize.la/post/inside-oceanwide-plazas-big-concrete-pour)

https://www.youtube.com/watch?v=2sPzssQo6wE
http://urbanize.la/sites/default/files/styles/1140wb/public/field/image/12948485_10154097299671100_1118715965_o.jpg?itok=ftklRpLZ (https://www.youtube.com/watch?v=2sPzssQo6wE)

LosAngelesSportsFan
Apr 6, 2016, 8:31 PM
Its so fascinating. I can watch these constructions sites all day. Its like a choreographed ballet

caligrad
Apr 6, 2016, 8:41 PM
^^^ I agree. I love seeing them rise. Circa surprised me at how quickly they got out the ground.

Anyone know when the cranes will be installed ? the bases were put in weeks ago. wheres the rest ?

blackcat23
Apr 7, 2016, 1:29 PM
2sPzssQo6wE

cesar90
Apr 30, 2016, 4:20 AM
http://i.imgur.com/VBA3B6A.jpg

jY_orVIcte4

Mojeda101
Apr 30, 2016, 4:33 AM
So many cranes...

blackcat23
May 18, 2016, 3:02 PM
Retail Leasing Begins for Oceanwide Plaza (http://urbanize.la/post/take-video-tour-1-billion-oceanwide-plaza)

Official website features a new flythrough video.

http://urbanize.la/sites/default/files/styles/1140w/public/field/image/oceanwide1_1.jpg?itok=0W2iABvU

kingkirbythe....
May 18, 2016, 5:21 PM
Lalalemon. :-D

Busy Bee
May 18, 2016, 5:24 PM
Lalalemon. :-D

To go along with Bobo, Barbelly and Whenever 21 of course.

colemonkee
May 19, 2016, 12:49 AM
Has the core for the taller tower already reached street level? From the Metropolis web cam, it sure looks like it has.

caligrad
May 20, 2016, 4:47 AM
Interesting. I knew I recognized all those colors and those 2 guys on the LED ribbon display. Its from a Beats commercial from about 4-5 years ago.

https://www.youtube.com/watch?v=ktBEEsCQYLM

Wonder if Oceanwide is hinting at something since Beats is now owned by Apple.

Hands down one of the best music oriented commercials ever.

BuzzBuzzMaria
Jun 9, 2016, 6:08 PM
Cool!

cesar90
Sep 27, 2016, 3:09 PM
AOjhjqN33CM

blackcat23
Oct 26, 2016, 5:16 PM
Fresh renderings for Oceanwide Plaza

Hotel will be a Park Hyatt

http://urbanize.la/sites/default/files/styles/1140w/public/field/image/oceanwide3_0.jpg?itok=c6_o40tW (http://urbanize.la/post/renderings-galore-oceanwide-plaza)

Doctorboffin
Oct 27, 2016, 2:28 AM
How tall is the building so far? I haven't seen any construction pictures lately.

LosAngelesSportsFan
Oct 27, 2016, 6:17 PM
How tall is the building so far? I haven't seen any construction pictures lately.

between ground floor and 3rd floor depending on the location.. Its such a massive site

user2468
Nov 6, 2016, 3:37 AM
Oceanwide Plaza Tower 1, taken today.
https://c7.staticflickr.com/6/5799/30501099230_ed64243692_c.jpg (https://flic.kr/p/Nth7ad)IMG_20161105_134108 (https://flic.kr/p/Nth7ad) by Juan Gomez (https://www.flickr.com/photos/142212842@N04/), on Flickr

user2468
Nov 19, 2016, 12:17 AM
From yesterday, by me.
https://c8.staticflickr.com/6/5344/31077165575_09135a96d6_c.jpg (https://flic.kr/p/PmbABz)1101 S. Flower Street (Oceanwide Plaza) #1 - 11/17/2016 (https://flic.kr/p/PmbABz) by Juan Gomez (https://www.flickr.com/photos/142212842@N04/), on Flickr

https://c7.staticflickr.com/6/5514/31041421526_4809320969_c.jpg (https://flic.kr/p/Pi2p9S)1101 S. Flower Street (Oceanwide Plaza) #2 - 11/17/2016 (https://flic.kr/p/Pi2p9S) by Juan Gomez (https://www.flickr.com/photos/142212842@N04/), on Flickr

https://c8.staticflickr.com/6/5681/31077160255_d36cc08323_c.jpg (https://flic.kr/p/Pmbz2R)1101 S. Flower Street (Oceanwide Plaza) #3 - 11/17/2016 (https://flic.kr/p/Pmbz2R) by Juan Gomez (https://www.flickr.com/photos/142212842@N04/), on Flickr

https://c6.staticflickr.com/6/5654/30962971741_5c0f5abe3b_c.jpg (https://flic.kr/p/Pb6jLn)1101 S. Flower Street (Oceanwide Plaza) #4 - 11/17/2016 (https://flic.kr/p/Pb6jLn) by Juan Gomez (https://www.flickr.com/photos/142212842@N04/), on Flickr

https://c5.staticflickr.com/6/5488/30934783732_1a2e687aec_c.jpg (https://flic.kr/p/P8ARsd)1101 S. Flower Street (Oceanwide Plaza) #5 - 11/17/2016 (https://flic.kr/p/P8ARsd) by Juan Gomez (https://www.flickr.com/photos/142212842@N04/), on Flickr

https://c3.staticflickr.com/6/5479/30934770482_ba938730e9_c.jpg (https://flic.kr/p/P8AMvL)1101 S. Flower Street (Oceanwide Plaza) #6 - 11/17/2016 (https://flic.kr/p/P8AMvL) by Juan Gomez (https://www.flickr.com/photos/142212842@N04/), on Flickr

cesar90
Dec 14, 2016, 5:23 AM
ExbX8oDNwW4

user2468
Dec 15, 2016, 8:19 PM
Photos taken on Monday.

https://c7.staticflickr.com/1/215/31253305990_bc41746d4e_c.jpg (https://flic.kr/p/PBKn2h)1101 S. Flower Street (Oceanwide Plaza) #1 - 12/13/2016 (https://flic.kr/p/PBKn2h) by Juan Gomez (https://www.flickr.com/photos/142212842@N04/), on Flickr

https://c3.staticflickr.com/1/338/30784297634_337b808d86_c.jpg (https://flic.kr/p/NUizbj)1101 S. Flower Street (Oceanwide Plaza) #2 - 12/13/2016 (https://flic.kr/p/NUizbj) by Juan Gomez (https://www.flickr.com/photos/142212842@N04/), on Flickr

https://c1.staticflickr.com/6/5605/31253586600_ecd7b28d9d_c.jpg (https://flic.kr/p/PBLNro)1101 S. Flower Street (Oceanwide Plaza) #3 - 12/13/2016 (https://flic.kr/p/PBLNro) by Juan Gomez (https://www.flickr.com/photos/142212842@N04/), on Flickr

https://c8.staticflickr.com/1/609/30815686343_a6d1d532ba_c.jpg (https://flic.kr/p/NX5rWX)1101 S. Flower Street (Oceanwide Plaza) #4 - 12/13/2016 (https://flic.kr/p/NX5rWX) by Juan Gomez (https://www.flickr.com/photos/142212842@N04/), on Flickr

https://c8.staticflickr.com/1/639/31510152231_4e953eb296_c.jpg (https://flic.kr/p/Q1rLsK)1101 S. Flower Street (Oceanwide Plaza) #5 - 12/13/2016 (https://flic.kr/p/Q1rLsK) by Juan Gomez (https://www.flickr.com/photos/142212842@N04/), on Flickr

https://c5.staticflickr.com/6/5578/31588851316_5198f3595f_c.jpg (https://flic.kr/p/Q8p7Xw)1101 S. Flower Street (Oceanwide Plaza) #6 - 12/13/2016 (https://flic.kr/p/Q8p7Xw) by Juan Gomez (https://www.flickr.com/photos/142212842@N04/), on Flickr

https://c8.staticflickr.com/6/5500/30815705183_8e044b4716_c.jpg (https://flic.kr/p/NX5xxM)1101 S. Flower Street (Oceanwide Plaza) #7 - 12/13/2016 (https://flic.kr/p/NX5xxM) by Juan Gomez (https://www.flickr.com/photos/142212842@N04/), on Flickr

https://c4.staticflickr.com/1/235/30815715483_ebb384bef7_c.jpg (https://flic.kr/p/NX5ABn)1101 S. Flower Street (Oceanwide Plaza) #8 - 12/13/2016 (https://flic.kr/p/NX5ABn) by Juan Gomez (https://www.flickr.com/photos/142212842@N04/), on Flickr

https://c8.staticflickr.com/1/530/31626068855_5df54b97df_c.jpg (https://flic.kr/p/QbFSre)1101 S. Flower Street (Oceanwide Plaza) #9 - 12/13/2016 (https://flic.kr/p/QbFSre) by Juan Gomez (https://www.flickr.com/photos/142212842@N04/), on Flickr

user2468
Jan 27, 2017, 12:46 AM
January update

https://c1.staticflickr.com/1/427/32164667370_66707d141a_c.jpg (https://flic.kr/p/R1hk1w)1101 S. Flower Street (Oceanwide Plaza) #1 - 1/26/2017 (https://flic.kr/p/R1hk1w) by Juan Gomez (https://www.flickr.com/photos/142212842@N04/), on Flickr

https://c1.staticflickr.com/1/555/32164662540_207e784247_c.jpg (https://flic.kr/p/R1hizf)1101 S. Flower Street (Oceanwide Plaza) #2 - 1/26/2017 (https://flic.kr/p/R1hizf) by Juan Gomez (https://www.flickr.com/photos/142212842@N04/), on Flickr

https://c1.staticflickr.com/1/603/32502842906_9efef9ea71_c.jpg (https://flic.kr/p/RwayPd)1101 S. Flower Street (Oceanwide Plaza) #3 - 1/26/2017 (https://flic.kr/p/RwayPd) by Juan Gomez (https://www.flickr.com/photos/142212842@N04/), on Flickr

https://c1.staticflickr.com/1/488/32391269482_df40d2f0f8_c.jpg (https://flic.kr/p/RmiHVu)1101 S. Flower Street (Oceanwide Plaza) 4 - 1/26/2017 (https://flic.kr/p/RmiHVu) by Juan Gomez (https://www.flickr.com/photos/142212842@N04/), on Flickr

Valyrian Steel
Jan 27, 2017, 12:49 AM
This thing has taken an eternity to rise.

cesar90
Feb 26, 2017, 4:53 PM
9iDyskGeEfE

user2468
Apr 7, 2017, 3:20 AM
April update
https://c1.staticflickr.com/4/3945/33727442862_713efe423a_b.jpg (https://flic.kr/p/TonXHy)1101 S. Flower Street (Oceanwide Plaza) #1 - 4/6/2017 (https://flic.kr/p/TonXHy) by Juan Gomez (https://www.flickr.com/photos/142212842@N04/), on Flickr

https://c1.staticflickr.com/3/2868/33070712103_9bf6437938_b.jpg (https://flic.kr/p/Som3xr)1101 S. Flower Street (Oceanwide Plaza) #2 - 4/6/2017 (https://flic.kr/p/Som3xr) by Juan Gomez (https://www.flickr.com/photos/142212842@N04/), on Flickr

https://c1.staticflickr.com/4/3947/33884186075_d094d8392e_b.jpg (https://flic.kr/p/TCej1K)1101 S. Flower Street (Oceanwide Plaza) #3 - 4/6/2017 (https://flic.kr/p/TCej1K) by Juan Gomez (https://www.flickr.com/photos/142212842@N04/), on Flickr

https://c1.staticflickr.com/3/2909/33070691333_f0265a1051_b.jpg (https://flic.kr/p/SokWnk)1101 S. Flower Street (Oceanwide Plaza) #4 - 4/6/2017 (https://flic.kr/p/SokWnk) by Juan Gomez (https://www.flickr.com/photos/142212842@N04/), on Flickr

https://c1.staticflickr.com/3/2919/33843012006_5bc04e4bbf_b.jpg (https://flic.kr/p/TyAhp1)1101 S. Flower Street (Oceanwide Plaza) #5 - 4/6/2017 (https://flic.kr/p/TyAhp1) by Juan Gomez (https://www.flickr.com/photos/142212842@N04/), on Flickr

https://c1.staticflickr.com/3/2906/33727359642_f907805c60_b.jpg (https://flic.kr/p/TonwYJ)1101 S. Flower Street (Oceanwide Plaza) #6 - 4/6/2017 (https://flic.kr/p/TonwYJ) by Juan Gomez (https://www.flickr.com/photos/142212842@N04/), on Flickr

https://c1.staticflickr.com/3/2921/33842969406_48a44d26b8_b.jpg (https://flic.kr/p/TyA4Jw)1101 S. Flower Street (Oceanwide Plaza) #7 - 4/6/2017 (https://flic.kr/p/TyA4Jw) by Juan Gomez (https://www.flickr.com/photos/142212842@N04/), on Flickr

https://c1.staticflickr.com/3/2933/33040263444_c35b44c354_b.jpg (https://flic.kr/p/SkDZdy)1101 S. Flower Street (Oceanwide Plaza) #8 - 4/6/2017 (https://flic.kr/p/SkDZdy) by Juan Gomez (https://www.flickr.com/photos/142212842@N04/), on Flickr

Urbannizer
May 9, 2017, 6:50 AM
https://c1.staticflickr.com/5/4193/33654578364_c7836bae16_b.jpg (https://flic.kr/p/TgWvD7)
Oceanwide Plaza (https://flic.kr/p/TgWvD7) by HunterKerhart.com (https://www.flickr.com/photos/hunterkerhart/), on Flickr

https://c1.staticflickr.com/5/4160/34111739020_a52b07f8dc_h.jpg (https://flic.kr/p/TYkzzo)
Oceanwide Plaza (https://flic.kr/p/TYkzzo) by HunterKerhart.com (https://www.flickr.com/photos/hunterkerhart/), on Flickr

https://c1.staticflickr.com/5/4175/34111739510_d6e1fb5c62_h.jpg (https://flic.kr/p/TYkzHQ)
Oceanwide Plaza (https://flic.kr/p/TYkzHQ) by HunterKerhart.com (https://www.flickr.com/photos/hunterkerhart/), on Flickr

ucla_student
May 30, 2017, 3:44 AM
From LA Live's balcony:

http://i.imgur.com/3h1z4k3l.jpg

blackcat23
Jul 11, 2017, 6:08 PM
Much like the Ritz Carlton a block away, this one will have Park Hyatt branded condos

https://urbanize.la/sites/default/files/styles/1140w/public/field/image/ON001-04-R04-Oceanwide-Yoga-no%20people.jpg?itok=zLduFJ5o (https://urbanize.la/post/park-hyatt-branded-condos-coming-oceanwide-plaza)

Submariner
Jul 13, 2017, 2:27 AM
Is there a diagram for this project? It seems that there are numerous towers going up in LA without them...

Jun
Jul 15, 2017, 4:35 AM
Is there a diagram for this project? It seems that there are numerous towers going up in LA without them...

https://urbanize.la/sites/default/files/styles/1140w/public/fig1_0.PNG?itok=vzmh-GaE
https://urbanize.la/sites/default/files/styles/1140w/public/fig3.PNG?itok=y0UsiD7q

shakman
Jul 17, 2017, 2:44 PM
:previous: The heights looked to be based off of sea level elevations. Therefore the actual height of the each structure will be less than what is stated on the title of this thread.

112597jorge
Jul 18, 2017, 6:36 AM
:previous: The heights looked to be based off of sea level elevations. Therefore the actual height of the each structure will be less than what is stated on the title of this thread.

Heights are correctly stated. 677ft and 530ft from ground level. He ground there is about 250 ft above sea level subtracting that from the building heights would leave Oceanside with towers smaller than circa next door.

Submariner
Jul 24, 2017, 10:11 PM
https://urbanize.la/sites/default/files/styles/1140w/public/fig1_0.PNG?itok=vzmh-GaE
https://urbanize.la/sites/default/files/styles/1140w/public/fig3.PNG?itok=y0UsiD7q

Thanks! But I meant a Skyscraperpage diagram.

blackcat23
Aug 24, 2017, 8:31 PM
Raising the glass - video feature inside Oceanwide Plaza

http://https://urbanize.la/sites/default/files/styles/1140wb/public/field/image/Oceanwide%20Plaza%20Glass.png?itok=DfHKr0Bl (https://urbanize.la/post/oceanwide-plaza-raising-glass)

user2468
Aug 25, 2017, 5:59 AM
End of August update, taken today.

https://farm5.staticflickr.com/4441/35952033524_df9f4f57d9_b.jpg (https://flic.kr/p/WLXz1Y)1101 S. Flower Street (Oceanwide Plaza) #1 - 6/24/2017 (https://flic.kr/p/WLXz1Y) by Juan Gomez (https://www.flickr.com/photos/142212842@N04/), on Flickr

https://farm5.staticflickr.com/4375/36389618100_396dd94480_b.jpg (https://flic.kr/p/XrCiEC)1101 S. Flower Street (Oceanwide Plaza) #2 - 6/24/2017 (https://flic.kr/p/XrCiEC) by Juan Gomez (https://www.flickr.com/photos/142212842@N04/), on Flickr

https://farm5.staticflickr.com/4351/36389613970_750a6dc849_b.jpg (https://flic.kr/p/XrChrq)1101 S. Flower Street (Oceanwide Plaza) #2 - 6/24/2017 (https://flic.kr/p/XrChrq) by Juan Gomez (https://www.flickr.com/photos/142212842@N04/), on Flickr

https://farm5.staticflickr.com/4370/36786646645_7ce1f5e969_b.jpg (https://flic.kr/p/Y3Hbqn)1101 S. Flower Street (Oceanwide Plaza) #3 - 6/24/2017 (https://flic.kr/p/Y3Hbqn) by Juan Gomez (https://www.flickr.com/photos/142212842@N04/), on Flickr

https://farm5.staticflickr.com/4380/36786642085_a8de3450fd_b.jpg (https://flic.kr/p/Y3Ha4K)1101 S. Flower Street (Oceanwide Plaza) #4 - 6/24/2017 (https://flic.kr/p/Y3Ha4K) by Juan Gomez (https://www.flickr.com/photos/142212842@N04/), on Flickr

https://farm5.staticflickr.com/4428/35952015204_07a24d9d44_b.jpg (https://flic.kr/p/WLXtz7)1101 S. Flower Street (Oceanwide Plaza) #5 - 6/24/2017 (https://flic.kr/p/WLXtz7) by Juan Gomez (https://www.flickr.com/photos/142212842@N04/), on Flickr

https://farm5.staticflickr.com/4342/36616497112_3c4d164833_b.jpg (https://flic.kr/p/XMF7TJ)1101 S. Flower Street (Oceanwide Plaza) #6 - 6/24/2017 (https://flic.kr/p/XMF7TJ) by Juan Gomez (https://www.flickr.com/photos/142212842@N04/), on Flickr

https://farm5.staticflickr.com/4332/36616498022_9eff06d5d5_b.jpg (https://flic.kr/p/XMF8aq)1101 S. Flower Street (Oceanwide Plaza) #7 - 6/24/2017 (https://flic.kr/p/XMF8aq) by Juan Gomez (https://www.flickr.com/photos/142212842@N04/), on Flickr

cesar90
Nov 1, 2017, 6:02 PM
ZvcBBo_t-Eg

Easy
Nov 27, 2017, 12:30 AM
Taken yesterday by me. The left tower looks pretty close to topping out. The middle tower is a couple floors behind. The right tower still needs about 8-10 more stories.

http://i68.tinypic.com/qzhpqv.jpg

CastleScott
Nov 27, 2017, 1:16 AM
^ Great pics and nice update!!:cheers:

Urbannizer
Feb 22, 2018, 1:44 AM
https://farm5.staticflickr.com/4716/40369724341_aab7edc6ba_h.jpg (https://flic.kr/p/24vkoA2)
Oceanwide Plaza (https://flic.kr/p/24vkoA2) by HunterKerhart.com (https://www.flickr.com/photos/hunterkerhart/), on Flickr

https://farm5.staticflickr.com/4662/40227415581_c95edb0ba9_h.jpg (https://flic.kr/p/24hL29H)
Oceanwide Plaza (https://flic.kr/p/24hL29H) by HunterKerhart.com (https://www.flickr.com/photos/hunterkerhart/), on Flickr

https://farm5.staticflickr.com/4711/40227416991_212c3dcea7_h.jpg (https://flic.kr/p/24hL2z2)
Oceanwide Plaza & Circa (https://flic.kr/p/24hL2z2) by HunterKerhart.com (https://www.flickr.com/photos/hunterkerhart/), on Flickr

Patrick
Apr 3, 2018, 9:05 PM
I'm surprised this one isn't getting more attention. Not the most exciting design, but it's making quite an impact on the skyline!

https://farm5.staticflickr.com/4782/39914368434_afd4167431_b.jpg (https://flic.kr/p/23P6z97)

Oceanwide Plaza (https://flic.kr/p/23P6z97) by STERLINGDAVISPHOTO (https://www.flickr.com/photos/sterlingdavisphoto/), on Flickr

https://farm1.staticflickr.com/806/40101808255_d31c63231e_b.jpg (https://flic.kr/p/246Efta)

Untitled (https://flic.kr/p/246Efta) by STERLINGDAVISPHOTO (https://www.flickr.com/photos/sterlingdavisphoto/), on Flickr

https://farm5.staticflickr.com/4756/39914368774_bed275fb67_b.jpg (https://flic.kr/p/23P6zeY)

Oceanwide Plaza, 1212 Flower (https://flic.kr/p/23P6zeY) by STERLINGDAVISPHOTO (https://www.flickr.com/photos/sterlingdavisphoto/), on Flickr

https://farm5.staticflickr.com/4670/39914367894_b4cdaa52c0_b.jpg (https://flic.kr/p/23P6yYN)

Circa, Oceanwide Plaza (https://flic.kr/p/23P6yYN) by STERLINGDAVISPHOTO (https://www.flickr.com/photos/sterlingdavisphoto/), on Flickr

https://farm5.staticflickr.com/4652/40662877931_e18bd8887a_b.jpg (https://flic.kr/p/24XeSWg)

Los Angeles Winter Cityscape (https://flic.kr/p/24XeSWg) by Jeremy Thomas (https://www.flickr.com/photos/fijizzle/), on Flickr

https://farm5.staticflickr.com/4678/39710493705_777870b118_b.jpg (https://flic.kr/p/23v5Ehz)

City in the Clourds (https://flic.kr/p/23v5Ehz) by April Reppucci (https://www.flickr.com/photos/areppucci/), on Flickr

Urbannizer
Apr 24, 2018, 4:24 PM
https://farm1.staticflickr.com/857/40772634715_64e8e7efa9_h.jpg (https://flic.kr/p/257WpNB)
Oceanwide Plaza (https://flic.kr/p/257WpNB) by HunterKerhart.com (https://www.flickr.com/photos/hunterkerhart/), on Flickr

https://farm1.staticflickr.com/928/40772635555_7c6c41e3d3_h.jpg (https://flic.kr/p/257Wq46)
Oceanwide Plaza (https://flic.kr/p/257Wq46) by HunterKerhart.com (https://www.flickr.com/photos/hunterkerhart/), on Flickr

https://farm1.staticflickr.com/856/40772636785_01b8e1c186_h.jpg (https://flic.kr/p/257Wqqi)
Oceanwide Plaza (https://flic.kr/p/257Wqqi) by HunterKerhart.com (https://www.flickr.com/photos/hunterkerhart/), on Flickr

https://farm1.staticflickr.com/838/26795648087_0ff6da5bb1_h.jpg (https://flic.kr/p/GPQGCx)
Oceanwide Plaza (https://flic.kr/p/GPQGCx) by HunterKerhart.com (https://www.flickr.com/photos/hunterkerhart/), on Flickr

Urbannizer
Jun 20, 2018, 6:18 PM
https://farm2.staticflickr.com/1748/42551464411_393e349ba6_h.jpg (https://flic.kr/p/27Q8nU8)
Oceanwide Plaza (https://flic.kr/p/27Q8nU8) by HunterKerhart.com (https://www.flickr.com/photos/hunterkerhart/), on Flickr

https://farm2.staticflickr.com/1751/41649386955_8783561878_h.jpg (https://flic.kr/p/26spZGx)
Oceanwide Plaza (https://flic.kr/p/26spZGx) by HunterKerhart.com (https://www.flickr.com/photos/hunterkerhart/), on Flickr

https://farm2.staticflickr.com/1738/41828784944_fa636836a3_h.jpg (https://flic.kr/p/26Jgstj)South Park (https://flic.kr/p/26Jgstj) by
HunterKerhart.com (https://www.flickr.com/photos/hunterkerhart/), on Flickr

https://farm2.staticflickr.com/1745/42551463041_dea8b98ddb_h.jpg (https://flic.kr/p/27Q8nuv)
Downtown LA Skyline (https://flic.kr/p/27Q8nuv) by HunterKerhart.com (https://www.flickr.com/photos/hunterkerhart/), on Flickr

Phil McAvity
Jul 16, 2018, 9:38 PM
https://farm1.staticflickr.com/838/26795648087_0ff6da5bb1_h.jpg (https://flic.kr/p/GPQGCx)
Oceanwide Plaza (https://flic.kr/p/GPQGCx) by HunterKerhart.com (https://www.flickr.com/photos/hunterkerhart/), on Flickr

Is that skyline in the distance Century City?

LAsam
Jul 16, 2018, 11:08 PM
Is that skyline in the distance Century City?

You are correct, sir. :tup:

Urbannizer
Oct 17, 2018, 8:46 PM
https://farm2.staticflickr.com/1927/31320729308_751f0dfaab_h.jpg (https://flic.kr/p/PHGVCh)
South Park (https://flic.kr/p/PHGVCh) by HunterKerhart.com (https://www.flickr.com/photos/hunterkerhart/), on Flickr

https://farm2.staticflickr.com/1927/45145099792_a0409d7c1a_h.jpg (https://flic.kr/p/2bMjrkw)
Oceanwide Plaza (https://flic.kr/p/2bMjrkw) by HunterKerhart.com (https://www.flickr.com/photos/hunterkerhart/), on Flickr

NYguy
Oct 18, 2018, 2:03 AM
Nice, this is what I like. More density.

caligrad
Oct 19, 2018, 4:20 PM
I hope they didn't scrap the wrap around ribbon on 12th and fig

colemonkee
Oct 19, 2018, 4:34 PM
^ That part of the construction has been conspicuously absent for far too long.

Prezrezc
Oct 19, 2018, 5:17 PM
*Really* digging how Metropolis shook out.

This project, although nice for sheer presence in this part of DTLA, IMO seems a bit "sterile", if you catch my drift.....especially the twins.

WonderlandPark2
Oct 19, 2018, 5:30 PM
Gawd I hope they don't scrap the crown. Certainly taking their time.

caligrad
Oct 26, 2018, 11:09 PM
^ That part of the construction has been conspicuously absent for far too long.

Yeah its making me a bit nervous. Every pic I've seen of the general area doesn't show any work being done for the foundation of that part. What could have been a great "Canyon" affect on 12th will now appear to be shoulda coulda woulda. I know we all get overly excited and assume the worse sometimes but.... with the rumors earlier this year and what seems to be a little slow down with actually getting this project done. I wouldn't be surprised if they just left that area a plaza. :shrug:

chris08876
Jan 28, 2019, 7:59 PM
Construction halts on $1-billion mixed-use complex in downtown L.A.

Construction on Oceanwide Plaza, one of the biggest real estate development projects in downtown Los Angeles, has stalled in what may be a shortfall in financing from the project’s Chinese owner.

The condominium, hotel and retail complex across the street from Staples Center is expected to cost more than $1 billion and be a key part of the flashy entertainment, hotel and residential district emerging along Figueroa Street.

The plaza is being built by Oceanwide Holdings, a Beijing-based publicly traded conglomerate that reported revenue of $2.37 billion in 2017. The company said in a statement Thursday that the hold-up is due to a recapitalization of the project and that work will resume by the middle of next month.

Any halt of a Chinese-backed real estate project, however, is bound to raise concerns that it may be related to Chinese government policies restricting the flow of money out of the country. The policies, put in place in 2016, sent shock waves through real estate circles because China has become a major investor and developer in the U.S.

The shutdown also comes at a time when the FBI is conducting a corruption probe at City Hall that is investigating possible kickbacks and other crimes that might involve foreign real estate developers with downtown building projects.
=============================
https://www.latimes.com/business/la-fi-oceanwide-plaza-stalled-20190125-story.html

Prezrezc
Jan 28, 2019, 8:40 PM
First, a leaning and/or sinking high-rise in San Francisco, now this possible mega-can o' worms here.

And just when I deemed it safe to allow the seed of notion to take root in my mind that California had at best somewhat grasped the concept of city development actually being undertaken by its own citizens...:sarcasmalert:

Nice try, me......:: ditto ::

caligrad
Jan 29, 2019, 6:09 AM
^^^ An odd statement lol. The leaning tower of San Fran was just rushed engineering, this however is a bit different. A Chinese backed company having money flow problems in a political climate where we aren't the best of friends sounds about right. They'll get funding to finish and we'll all forget it ever happened, its already about 80% complete and topped out. I don't foresee them having problems finishing. IF the worse were to happen, all they'll do is sell to another developer to finish. No biggie.

Pedestrian
Jan 29, 2019, 7:01 AM
The leaning tower of San Fran was just rushed engineering, this however is a bit different.

It wasn't rushed. It was probably just wrong. The engineers believed that friction piles and a very thick mat foundation was sufficient and they were probably wrong. It should be noted that the group that constructed this tower, Millennium partners, "has created an unparalleled portfolio of core, urban, mixed-use properties in America's great gateway cities (including NYC), for more than two decades". It was niether a California outfit nor an inexperienced one.

But the Millennium Tower HOA alleges the excavation of the Salesforce Transit Center nextdoor undermined the foundation of their building and the matter hasn't yet been sorted out via multiple lawsuits.

pwright1
Feb 4, 2019, 1:38 AM
https://c2.staticflickr.com/8/7926/46199544044_886b1f485c_b.jpg

https://c1.staticflickr.com/5/4839/45711486182_9e4c327f75_b.jpg

https://c2.staticflickr.com/2/1918/43810041350_b041c4b926_b.jpg

https://c2.staticflickr.com/2/1977/44289937505_b738082c6e_b.jpg

Hudson11
Feb 12, 2019, 2:10 AM
Oceanwide is looking to sell their NYC holding. Meanwhile, this...

Stalled DTLA megadevelopment Oceanwide Plaza owes contractors more than $52M (https://la.curbed.com/2019/2/6/18203579/oceanwide-downtown-los-angeles-construction-stalled-debt)

The developers behind Oceanwide Plaza—a massive $1 billion project that has ground to a halt in Downtown LA—owe more than $52 million to some of its contractors, according to a Curbed review of publicly available real estate records.

From June 29 until today, six subcontractors working on Oceanwide Plaza, including masonry, steel reinforcing, and concrete pouring companies, have recorded mechanic’s liens on the property totaling $62.5 million.

It’s possible that some of the liens records over that seven-month period have been paid. But a lawsuit filed Thursday in Los Angeles County Superior Court shows that $52.8 million owed to Webcor Construction—which recorded the largest mechanic’s lien against Oceanwide—is still outstanding.

[...]

A second Oceanwide subcontractor contacted by Curbed said it had been partially paid but was still owed about $550,000—more than half the amount of its $877,471 lien. Four of the six companies did not return messages seeking comment by the time of publication.

[...]

Contractors and subcontractors record mechanic’s liens when they have not been paid on time for their work. They are not uncommon in the construction industry, but if left unpaid, these liens can have serious consequences.


[...]

In January, Oceanwide’s general contractor, Lendlease, sent a letter to at least two subcontractors announcing that it was suspending construction activity on the site because Oceanwide had “failed to provide contractually required payments for both your and our work.”

Lendlease added in the letter, which was shared with Curbed, that “among other failures,” Oceanwide “failed to maintain the minimum contractually required funds” in the project’s escrow account.

Zerton
Feb 14, 2019, 12:10 AM
I like the white structural frame and how the curving balconies sort of form a spine. Iconic touch.

caligrad
Feb 16, 2019, 8:17 PM
It wasn't rushed. It was probably just wrong. The engineers believed that friction piles and a very thick mat foundation was sufficient and they were probably wrong. It should be noted that the group that constructed this tower, Millennium partners, "has created an unparalleled portfolio of core, urban, mixed-use properties in America's great gateway cities (including NYC), for more than two decades". It was niether a California outfit nor an inexperienced one.

But the Millennium Tower HOA alleges the excavation of the Salesforce Transit Center nextdoor undermined the foundation of their building and the matter hasn't yet been sorted out via multiple lawsuits.

At the end of the day it was still rushed. Meaning, it was built on soft sediment/landfill. Piles didn't go all the way down to bedrock. Doesn't matter how long Millennium partners have been in business, long lasting corporations can make mistakes here and there, Sears, JCpenny, even Toyota a few years ago. And again " Excavation of salesforce next door undermined the foundation" because apparently its common for buildings to lean and sink when a new building next door begins excavation and construction ? :shrug: It should have been built right the first time.

Tiorted9
Mar 21, 2019, 7:11 PM
construction restarting, even with liens at almost 100M.

https://la.curbed.com/2019/3/21/18272985/oceanwide-plaza-downtown-development-construction-debt

Just-In-Cali
Aug 23, 2019, 7:38 PM
It Lives!!!! (From my post on the Downtown thread)

From UrbanizeLA

Oceanwide Plaza Shows Signs of Life
https://urbanize.la/post/oceanwide-plaza-shows-signs-life

https://urbanize.la/sites/default/files/styles/2018_article_gallery_image_2000w_watermark/public/field/image/Oceanwide%20Plaza%20by%20Hunter%20Kerhart%205_0.jpg?itok=gdmyC9nD
https://urbanize.la/sites/default/files/styles/2018_article_gallery_image_2000w_watermark/public/field/image/Oceanwide%20Plaza%20by%20Hunter%20Kerhart%201_1.jpg?itok=tpwSctdb
https://urbanize.la/sites/default/files/styles/2018_article_gallery_image_2000w_watermark/public/field/image/Oceanwide%20Plaza%20by%20Hunter%20Kerhart%203.jpg?itok=Yqpi5-Dc

Despite its well-documented struggles, signs or progress are now clearly visible at the beleagured Oceanwide Plaza development in Downtown Los Angeles.

The project, which spans a full city block across the street from Staples Center, consists of three towers which will contain 504 condominiums, a 184-room hotel, and a 150,000-square-foot retail podium. The CallisonRTKL-designed development will be wrapped by an LED ribbon stretching the full block of Figueroa Street between 11th and 12th Streets.

Work at Oceanwide Plaza came to an abrupt halt in January 2019, not long after the project became embroiled in an FBI corruption probe of Los Angeles city officials. This followed months of rumored cost overruns that had seen Oceanwide blow past its original $1 billion budget.

Current activities at the site are limited to its largest building, a 49-story edifice 11th and Figueroa Streets which will house a Park Hyatt hotel and branded condominiums. In recent weeks, crews have started assembling the frame of the tower's architectural crown, which will be illuminated at night. Additionally, metal structures have been installed at the building's podium to support the proposed LED screen.

A timeline for completion of the hotel tower, as well as the two condo buildings and retail podium, remains unclear.


With that part of the crown/parapet in place, that brings the tower to its final reported height of 677'.
This thing being completed will be a game changer in South Park.

Urbannizer
Oct 16, 2019, 3:44 PM
https://live.staticflickr.com/65535/48901498151_c3aa00cd28_h.jpg (https://flic.kr/p/2hvfXGt)
South Park (https://flic.kr/p/2hvfXGt) by HunterKerhart.com (https://www.flickr.com/photos/hunterkerhart/), on Flickr

homebucket
Oct 18, 2019, 4:17 PM
Any updates on this project?

Barney Greengrass
Oct 19, 2019, 6:15 AM
Sober and utilitarian design, but in a complimentary, refined way. It has a very impactful affect on DTLA skyline for sure.

homebucket
Oct 30, 2019, 8:59 PM
We have an update. Unfortunately, it's looking bleak.

L.A.’s $1 Billion Trophy Tower Halted as China Pulls Back

Edvard Pettersson
Bloomberg October 30, 2019

(Bloomberg) -- It’s meant to be one of the crown jewels of downtown Los Angeles’ urban renaissance but now it’s in limbo -- plagued by lawsuits from subcontractors, and victim of an ongoing trade dispute between China and the U.S. and a Beijing crackdown on credit and capital flight.

Construction has largely stalled at the three towers of Oceanwide Plaza across from Staples Center where the NBA’s Lakers and Clippers and the NHL’s Kings play their home games.

On a recent Friday afternoon, no workers or vehicles entered the construction site, which takes up a city block and towers over Figueroa Street. A few security guards manning an entrance insisted that work was going on, yet no activity was visible from the outside.

The developer, Beijing-based Oceanwide Holdings Co., offered few details on the future of the $1 billion-plus project -- other than to insist that it has financing and work is continuing. The lawsuits by unpaid subcontractors, on the other hand, give a glimpse of the developer’s struggle to come up with needed money to finish the project.


https://finance.yahoo.com/news/l-1-billion-trophy-tower-040000137.html

caligrad
Nov 1, 2019, 2:05 AM
Yet again. Our best bet is to hope they sell to someone else to finish the job.

kolchak
Nov 2, 2019, 4:56 AM
Well I went a read this thread and now I'm more confused about this project. I don't understand how Oceanwide can claim financing is there and not be moving forward with this. I'm starting to think the project has deeeper problems than just a trade war and even the lean. Sadly i'm starting to realize this could sit unfinished for a long time :(

CaliNative
Nov 2, 2019, 5:31 AM
Buildings his far along are almost certain to be completed, especially a high profile project across from Staples/L.A. Live. Too much at stake. It may not be completed by the Chinese group, but someone will do it. May be delayed a bit though. But it will be done. Maybe they should finish the taller tower first, plus the wrap around video sign. Finish the smaller towers later.

Zapatan
Nov 2, 2019, 4:36 PM
Well at least they've already made their mark on the skyline, it'd be nice to see the cranes removed or completed cladding regardless of if they're occupied or not in the near future.

pwright1
Jan 27, 2020, 8:53 AM
https://live.staticflickr.com/65535/49366909491_67abd727f8_b.jpg

https://live.staticflickr.com/65535/49280459191_16ccb6f3d9_b.jpg

https://live.staticflickr.com/65535/49272935783_7b10b2258a_b.jpg

https://live.staticflickr.com/65535/49191976313_b8b63083c2_b.jpg

Niftybox
Jan 29, 2020, 4:53 AM
I guess one caveat of this project dragging on, with those 3 cranes it makes LA look like it's in a perpetual building boom. :laugh:

LAsam
Feb 28, 2020, 6:49 PM
Could this project please get sold to another developer so it can be finished? Seeing this so far along, and completely at a standstill, is painful...

:tantrum:

Yackemflaber69
Aug 11, 2020, 11:09 PM
https://www.bing.com/images/blob?bcid=T2UfeOxhg6oBCg
I took this photo

Yackemflaber69
Aug 11, 2020, 11:13 PM
https://www.bing.com/images/blob?bcid=T153NfqAJaoBEA
I took this photo

craigs
Aug 16, 2021, 7:16 PM
From nmkef's photo update (http://skyscraperpage.com/forum/showpost.php?p=9365970&postcount=10501):

https://i.imgur.com/WQJh469h.jpg

Scotchman
Nov 7, 2021, 4:27 PM
My first post.

I found these two articles. Essentially the same, but seemingly worded slightly differently.

This one asks for a subscription, but I was able to click through some hoops:

https://therealdeal.com/la/2021/10/29/oceanwides-la-gap-swells-to-2-3b/

This one without a subscription:

https://newsofamerica.org/2021/10/29/oceanwide-expects-the-cost-of-a-halted-los-angeles-project-to-rise-to-2-3-billion/

-------

Oceanwide’s LA tab grows to $2.3B

China-based developer of stalled project on Downtown skyline pegs December 2022 finish amid talk of fire sale

Los Angeles

October 29, 2021 12:44 PM

By Isabella Farr

Oceanwide, one of the largest real estate conglomerates in China, isn’t expecting to finish its Los Angeles flagship anytime soon –– or at anywhere near the price it first put on the project.

The Shenzhen-based firm said it’s estimating the currently stalled Oceanwide Plaza won’t be completed until December 2022. It has also indicated it plans to spend a total of $2.3 billion on the project, according to financial filings analyzed by The Real Deal.

and it continues...

-----------

I live in the neighborhood, so this is really the only subject I follow on here -- plus South Park development.

chris08876
Sep 8, 2022, 2:55 PM
Oceanwide Wants to Restart Massive Half-Built Development in LA

The massive multibillion-dollar Oceanwide Plaza development abruptly stopped rising in early 2019 just as it was becoming the newest mark on the skyline of Downtown Los Angeles. With tall cranes hanging motionless above the development for years, the project has become the subject of lawsuits and a source of unpaid debts.

Now, citing an interim results report from Oceanwide Holdings, Urbanize reported that the Beijing-based developer is rekindling fundraising efforts and now hopes to restart construction in 2023, and could complete work by 2025. That includes the 2 million-square-foot condo, hotel and apartment development taking up a full block adjacent to Crypto.com Arena (formerly Staples Center) and L.A. Live.

But there is the issue of money. The interim report details lenders and construction firms filing claims for failure to pay outstanding sums since the project stalled, and Oceanwide Holdings would need to raise another $2.3 billion to finish construction of Oceanwide Plaza after already spending $1.2 billion to get to where it was in 2019, Urbanize reported. There’s also the issue of financing with rising interest rates and construction costs.

But the company indicated in the report that it is in negotiations to complete construction and pay off all debts. The project calls for 504 condominiums, a 184-room Park Hyatt hotel, and 150,000 square feet of retail space on the block bounded by Figueroa, Flower, 11th and 12th streets, per Urbanize. The physical structures and curtain walls of the three main towers are the only elements of the project left to be completed.

==========================
https://commercialobserver.com/2022/09/oceanwide-wants-to-restart-massive-half-built-development-in-la/

GeneralLeeTPHLS
Sep 9, 2022, 2:48 AM
Good lord. 2.3 billion dollars? Holy cow. Well, I'm sure many people will be happy to see this site finished someday.

Phil McAvity
Jan 9, 2023, 6:24 PM
I guess one caveat of this project dragging on, with those 3 cranes it makes LA look like it's in a perpetual building boom. :laugh:

:haha:

Much like Pyongyang North Korea was with the Ryugyong Tower

TempleGuy1000
Jun 7, 2023, 12:50 PM
Oceanwide Defaults On $157M EB-5 Loan On Unfinished DTLA Project (https://www.bisnow.com/los-angeles/news/commercial-real-estate/oceanwide-plaza-loan-default-119262)

Incredible it was never finished.

Zapatan
Jun 7, 2023, 7:41 PM
Oceanwide Defaults On $157M EB-5 Loan On Unfinished DTLA Project (https://www.bisnow.com/los-angeles/news/commercial-real-estate/oceanwide-plaza-loan-default-119262)

Incredible it was never finished.

Not really good news but not surprising either. I can't read the whole article, is there anything more than just them not paying their loans?

Someone just needs to buy it.

animatedmartian
Jun 7, 2023, 9:40 PM
Not really good news but not surprising either. I can't read the whole article, is there anything more than just them not paying their loans?

Someone just needs to buy it.

That article seems like a repost of another article, however, the source article does mention that there is a potential buyer.

Oceanwide has also disclosed that it has signed a letter of intent to sell Oceanwide Plaza to a “potential buyer,” but has not provided further details.
https://therealdeal.com/la/2023/06/05/oceanwide-defaults-on-loan-tied-to-unfinished-la-megaproject/

Charmy2
Jun 8, 2023, 4:04 AM
Is there a future where these towers are finished, possibly by the time the Olympics come to Los Angeles? Also how come Oceanwide is struggling to sell their California projects? LA seems to have it better than SF as these towers are mostly complete compared to the tower in SF which has been a pit in the ground with little to no activity since 2018/2019 (the only activity I've seen was the tower cranes were removed). I also heard somewhere the SF project was cancelled.

Scotchman
Jun 19, 2023, 4:00 AM
From the article: "A sale of Oceanwide Plaza can be scheduled after Aug. 8, according to the notice."

AZRAM
Aug 23, 2023, 8:05 PM
https://www.costar.com/article/2030217368/los-angeles-skyscraper-unfinished-and-for-sale-draws-potential-buyers-%E2%80%94-and-new-ideas Los Angeles Skyscraper, Unfinished and for Sale, Draws Potential Buyers — And New Ideas
Partially Built Oceanwide Plaza Near Crypto.com Arena Sits on Market for Over a Year
Construction officially halted on the Oceanwide Plaza project in downtown Los Angeles in late 2020 after the developer said it ran out of cash. (CoStar)
Construction officially halted on the Oceanwide Plaza project in downtown Los Angeles in late 2020 after the developer said it ran out of cash. (CoStar)
By Jack Witthaus
CoStar News

August 2, 2023 | 4:05 P.M.
Potential buyers are mulling a different future for an unfinished skyscraper project — considered an eyesore by some as it looms over downtown Los Angeles — that's years away from completion and may cost hundreds of millions of dollars to finish.

Some investors looking at buying Oceanwide Plaza see the project needing a different design because real estate demands have shifted since construction began in 2015, four people with knowledge of sales talks said. Oceanwide Plaza, on the market for more than a year, was expected to feature upscale condominiums, a five-star hotel, a mall and the largest LED sign on the West Coast. Instead, the vacant building's shell displays tarps in some places and exposed beams in others to hundreds of thousands of motorists driving past downtown daily on Interstate 10 and Interstate 110, among the nation’s busiest highways.

So far, nothing is set about the project's future and no buyer has been identified for the high-profile site at 1100-1198 S. Flower St. near Crypto.com Arena and the Los Angeles Convention Center. Construction halted after China-based developer China Oceanwide said it ran out of cash for the project, featuring a 53-story tower, that has no asking price but that property professionals say could fetch hundreds of millions dollars.

The unfinished structure looming over the downtown of the nation's second-biggest city reflects the economic struggles some property owners across the United States are trying to shake more than three years after the pandemic struck. For Los Angeles, it's also a tangible sign of a pullback in financing among some investors from China in a cooling global economy as the city needs residential housing.

"It can't sit there as blight — especially since we're in a housing crisis," said Hal Bastian, a property broker and former director of development for the Los Angeles Downtown Center Business Improvement District.


Potential investors have speculated about a range of new uses they'd want to see at Oceanwide Plaza, with some buyers suggesting the condos need to be converted into apartments, and the multifamily units need to be smaller than the current size plan for the condos, the people familiar with the talks said. The retail component, too, has been mulled for different uses, including residential, by potential investors after demand shifted for that property type as more consumers turned to online shopping in the pandemic.

Some buyers have even more dramatic ideas about the project, including the outright demolition of at least parts of Oceanwide Plaza that they say could be less expensive to rebuild than to retrofit, according to three of the real estate professionals with knowledge of the sales discussions. Concerns mentioned include parts of Oceanwide Plaza suffering wear and tear and materials no longer being on site after construction stopped in October 2020.


China Oceanwide Wants To Sell Los Angeles Tower To Retain Shanghai Properties
A representative for China Oceanwide didn't respond to an email and a phone call requesting a comment. A representative for Lendlease, the project's contractor, declined to comment, citing litigation with the developer. Lawsuits and liens have been filed against the developer since 2019, further complicating a construction restart, according to a filing with the Hong Kong Stock Exchange.

Structural Reassessment
Meanwhile, a representative for the Los Angeles Department of Building and Safety said in an email that the department is not aware of any safety issues within its purview and there are no outstanding orders to comply with that would require a new owner to demolish any part of the project. Changes to the project would require permits from the city and inspections after construction.

Any demolition, if it happened, could be historic in the city of Los Angeles. The city building and safety department said it doesn't have records of any buildings demolished exceeding Oceanwide Plaza's height and size, the department's representative said in the email.

China Oceanwide said in March it has received letters of intent from several potential purchasers of its three-tower Oceanwide Plaza development, according to the filing with the Hong Kong Stock Exchange.

At the time, the developer had no definitive agreement to sell Oceanwide Plaza, but said it expected the property's disposition to occur by the end of 2023. China Oceanwide has not disclosed the identity of any potential buyers. The move toward a sale comes as some investors from China have been pulling money out of Los Angeles real estate.


The unfinished lower level of Oceanwide Plaza's three-tower development. (CoStar)
Real estate professionals who aren't involved with Oceanwide Plaza had mixed feelings when asked whether they thought it made sense for any parts of Oceanwide Plaza to be taken down. The property's next owner still will need to inject a substantial sum to complete the development, said Sonnet Hui, vice president and general manager of real estate consultant Project Management Advisors.

China Oceanwide has said in filings the project may need two years to wrap up construction. Hui estimated that as of November 2022 it would have cost $1 billion to finish Oceanwide Plaza, a high price that complicates financing efforts.

Oceanwide Plaza also has sat exposed and unprotected for several years and certain aspects of the building may be in need of repairs or replacement, Hui said. However, it may behoove the new owner to look at fixing the property's issues individually instead of looking at disassembling, he said.

The next owner may also want to reimagine the property's retail component and create smaller floor plans for the residential units that are now too large for the market, Hui said.

"While tearing down the building would allow for a fresh start, the building structure is so advanced that too much value would be lost," Hui said. "A more reasonable approach would be to remove everything except for the superstructure."

Assessing Costs, Demand
Deepansh Kathuria — principal of structural engineering firm Miyamoto International in Los Angeles and who isn't involved in the project — said he doubted there were structural concerns with Oceanwide Plaza.

Kathruia said that in general any talk of partial demolition may speak more to concern about an overall construction process that simply halted — for years. Kathruia said development and construction need to be a well-oiled machine with collaboration from everyone in order to find success and avoid having to go back and make any repairs.

Getting rid of the multifamily portions of the property, though, would be unusual and would come at a cost for Los Angeles because of the housing shortage, apartment brokers not involved in the development said. Oceanwide Plaza is planned to feature for-sale condo units, not apartments, but real estate analysts have long speculated those units could be converted into multifamily should condo demand not prove strong enough in downtown L.A. The developer of a nearby 56-story project converted its for-sale condos into multifamily when it opened in 2019.

David Evans, a senior multifamily associate of Kidder Matthews who isn't involved in the project, said from his day-to-day work buying and selling multifamily properties around greater Los Angeles he sees potential concerns for the building's future owner including insurance costs, a new sales tax that affects commercial properties and broader economic headwinds facing apartments in downtown Los Angeles. Since April 1, any property sold or transferred above $10 million in the city of L.A. is subject to a 5.5% mansion tax.


Construction cranes were lowered at the Oceanwide Plaza development in November. (Jack Witthaus/CoStar)
Downtown L.A.'s apartment market has seen vacancy rise from 6.4% to 11% in the past year, according to CoStar data. Meanwhile, average apartment asking rents in downtown L.A. have fallen to $2,793 from $2,830 one year ago.

Bastian said it wouldn't make financial sense to do a largescale rebuilding of Oceanwide Plaza, though it doesn't make sense for the project to just keep sitting.

"We sent men to the moon in July 1969," Bastian said. "We can figure this out."

Busy Bee
Feb 1, 2024, 2:42 PM
https://www.nbcnews.com/news/us-news/taggers-vandalize-30-floors-los-angeles-high-rise-rcna136696

Altoic
Feb 2, 2024, 10:59 PM
^That's crazy, it looks like a movie scene

https://i.imgur.com/kmRkwmj.png

Zapatan
Feb 2, 2024, 11:51 PM
That'll buff right out

Charmy2
Feb 3, 2024, 12:26 AM
Reminds me of the building currently at the One Bayfront Plaza site in Miami but unlike that building (which is in the process of being demolished) this one is still being built. I am kinda glad the SF Oceanwide Center never made it high enough to be noticed on the skyline before being put on hold...

plinko
Feb 3, 2024, 1:15 AM
It's like the Tower of David in Caracas, just missing an angry warlord and residents. Maybe relocate skid row?

The North One
Feb 8, 2024, 4:53 AM
Wow. Gotta admit that's impressive.

What a train wreck.

jbermingham123
Feb 8, 2024, 4:56 AM
This is where the olympic athletes are supposed to be staying right?

homebucket
Feb 8, 2024, 5:38 AM
Did they do it all in one night or something?

NYC2ATX
Feb 8, 2024, 5:50 AM
This is where the olympic athletes are supposed to be staying right?

if this isn't actually (already?) happening, it would lowkey be such a good idea for a problem that seems to lack any obvious solutions ... imjusayin :shrug:

craigs
Feb 8, 2024, 6:20 AM
This is where the olympic athletes are supposed to be staying right?

No, UCLA will be the Olympic Village. The athletes will stay in the dorms there.

Busy Bee
Feb 8, 2024, 1:38 PM
https://www.nbcnews.com/news/us-news/graffiti-tagged-l-high-rise-worldwide-issue-police-chief-says-rcna137819

homebucket
Feb 8, 2024, 4:08 PM
“It has become a worldwide issue, where we now have people traveling here in an effort make their mark,” Moore, who is retiring at the end of the month, said at a news conference naming an interim chief.”

I suppose you could also say it's becoming an oceanwide issue.