L.A.’s Graffiti Towers Finds Buyer in $470 Million Deal

Hollywood Reporter

by Winston Cho

February 24, 2026

AI-Generated Deep Dive Summary

L.A.'s unfinished Oceanwide Plaza complex, known as the Graffiti Towers due to its extensive graffiti-covered exterior, has been acquired by KPC Development Co. for $470 million. The deal aims to complete the luxury project before the 2028 Olympic Games, which have added urgency to resolve the stalled development. KPC, led by founder Kali Pradip Chaudhuri, plans to finish the three skyscraper towers and erase the eyesore that has marred downtown Los Angeles' skyline since construction halted in 2019. The project, originally valued at $1.2 billion, includes two 42-story towers and a 52-story tower featuring a luxury hotel, retail spaces, dining areas, and office space. The new owners have committed to resolving the complex's $70 million in outstanding debts, including back taxes, before taking over ownership. This acquisition represents a significant step forward for the property, which had been stuck in bankruptcy proceedings. The sale is seen as a crucial move for Los Angeles, as the city prepares to host the 2028 Olympics. The Graffiti Towers project has become a symbol of the challenges faced by downtown L.A.'s

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Originally published on Hollywood Reporter on 2/24/2026