Unfinished L.A. Graffiti Towers Complex Finds $470M Buyer

Kpc Development Co. plans to complete the $1.2 billion Oceanwide Plaza project ahead of the 2028 Olympics.

Published on Feb. 24, 2026

Got story updates? Submit your updates here. ›

The unfinished Oceanwide Plaza complex in downtown Los Angeles, known as the "Graffiti Towers" after construction was halted in 2019, has found a new $470 million buyer in Kpc Development Co. The developer plans to complete the $1.2 billion project before the 2028 Olympics in Los Angeles.

Why it matters

The Graffiti Towers have become a major eyesore in downtown L.A. and a priority for the city to address ahead of the 2028 Olympics. The sale and completion of the project will help transform the area and remove a blight on the cityscape.

The details

Kpc Development Co., founded by Kali Pradip Chaudhuri, entered into a $470 million deal with Lendlease, the original contractor for the project, to acquire the unfinished Oceanwide Plaza complex. The figure represents a bid that will be tested at auction, and if no higher offers come in, the bankruptcy court can approve the sale. Kpc Development plans to complete the $1.2 billion project, which has been stalled since 2019.

  • The Oceanwide Plaza complex construction was halted in 2019.
  • Kpc Development Co. entered into the $470 million deal on Monday, February 24, 2026.
  • The 2028 Olympics are scheduled to take place in Los Angeles.

The players

Kpc Development Co.

A development company founded by Kali Pradip Chaudhuri, who is also building a $300 million hotel next to SoFi Stadium.

Lendlease

The original contractor for the Oceanwide Plaza project.

Got photos? Submit your photos here. ›

What’s next

The bankruptcy court will need to approve the $470 million sale to Kpc Development Co. if no higher offers come in at auction.

The takeaway

The acquisition and completion of the Graffiti Towers complex in downtown Los Angeles will help transform the area and remove a long-standing eyesore ahead of the 2028 Olympics, demonstrating the city's ability to address major development challenges.