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The LAPD have said the graffiti will eventually be removed which seems rather pointless for a building that is probably eventually going to be torn down before

• Freak_NL 3y ago
  It's all about creating the appearance of wasted effort on the side of the taggers, possibly sprinkled with a little political nudging to stop highlighting that specific bit of failure. I hate tagging done in places where people obviously care about the building the walls are part of, but in this case it's hard not to see this as a public service: “Look at this hubris. Hard to ignore now isn't it? A huge newly built tower abandoned for all intents and purposes. It's a waste of space, money, and it raises questions about sustainability and fairness.”
  • vdaea 3y ago
    https://en.wikipedia.org/wiki/Broken_windows_theory https://en.wikipedia.org/wiki/Broken_windows_theory
    • drewcoo 3y ago
      https://psychcentral.com/health/broken-window-theory#broken-windows-theory-simplified https://psychcentral.com/health/broken-window-theory#broken-...
      • s1artibartfast 3y ago
        Now rebut the idea that condoning the breaking of windows and laws has a negative impact. The connection between supporting broken windows, and those who break them is a lot more direct. >The real blemish on the cityscape is a half-finished luxury condo building, not the colorful paint job.
  • pxmpxm 3y ago
    Is "abandoned" the narrative speak for a essentially bank owned real estate that's sitting in bankruptcy court somewhere? The premise this is a billion dollar asset that no one wants is patently asinine.
    • hotpotamus 3y ago
      Is there anyone currently residing in it? If the reason that it is disused is merely some bureaucratic snafu, then that actually feels even more dystopian than some run-of-the-mill abandonment.
      • pxmpxm 3y ago
        > currently residing in it? > run-of-the-mill abandonment That's a lovely way to try to frame the narrative, take that all the way through and every vacation home or place for sale/ready is "abandoned" and therefore morally acceptable for someone to take. Double plus good. Don't let the fact the Oceanwide lot alone being worth $100m plus stop though, though. Definitely abandoned, no one likes money.
        • hotpotamus 3y ago
          Given that homelessness is at record highs, I wouldn't worry too much about those with more homes than they can use; I think they'll be OK.
          • pxmpxm 3y ago
            And there it is. All fun and games till they come for your stuff, with the same argument. As someone with a first hand experience in that, I find it extremely peculiar these arguments are almost elusively made by 30 something year old white kids that grew up in upper middle class US suburbs.
            • hotpotamus 3y ago
              You're not exactly over the target, but it is a bit novel to see an acknowledgement of white privilege mixed in with what is more traditionally a conservative concern about property.
  • oh_sigh 3y ago
    Waste of space: Not really? The plot of land the building is on is ~ 1/3rd of an acre. Immediately adjacent to it are multiple street level-only parking lots that have a larger footprint. I guess providing parking to 60 cars is more useful than an empty building, but not by much, especially considering the building will probably be rehabbed eventually. For reference the LACC 1 block away has parking for 6000 cars, and done in a reasonable, space-efficient manner (multilevel underground parking). Waste of money: Whose money? The developers? Sure. But it isn't like random tax paying citizens of LA had any kind of stake in it.
• pxmpxm 3y ago
  Why would they tear down a brand new - fully compliant with the current code - nearly finished building?
  • zamfi 3y ago
    Unfortunately, it’s been abandoned (and likely unmaintained) for nearly 5 years — with incomplete weatherproofing, etc. Who knows what’s been damaged or destroyed, invisibly? It would be a major liability.
    • pxmpxm 3y ago
      The creditors have covenants to protect the asset and they've taken the possession in the fall of last year. 1) None of what you wrote makes sense - it's functionally owned by new york hedge fund 2) that specializes in real estate financing, and there's some local muni nonsense 3) that's slowing down the process. 1) https://therealdeal.com/la/2023/09/29/bermuda-court-orders-liquidation-of-china-oceanwide/ https://therealdeal.com/la/2023/09/29/bermuda-court-orders-l... 2) https://dwpartners.com/ https://dwpartners.com/ 3) https://therealdeal.com/la/2023/08/23/california-court-blocks-foreclosure-of-las-oceanwide-plaza/ https://therealdeal.com/la/2023/08/23/california-court-block...
      • zamfi 3y ago
        I mean, sure, legally. But how many large-scale structures like this, that were paused for 5 years, end up completed? I only know of 22 Bishopsgate [1] — and that’s with the big caveat that they gutted the structural core of the building and replaced it. Don’t get me wrong, I’d love for someone to have been maintaining it, and for construction to complete rather than going entirely to waste. But given the levels of fraud that have been alleged around the project, I’m not holding my breath. [1] https://en.wikipedia.org/wiki/22_Bishopsgate https://en.wikipedia.org/wiki/22_Bishopsgate
        • pxmpxm 3y ago
          Not uncommon, there was a ton of it after 2008. For steel and concrete highrises, it's not a huge deal. As matter of fact developers build these things in parallel, lower levels are getting interiors while upper floors are still open to elements concrete and middle is getting framed out for interior. Kinda interesting to see a tower that's getting washers/dryers and exterior windows installed at the same time... https://www.wsj.com/articles/SB10001424052748704226004575262580613845118 https://www.wsj.com/articles/SB10001424052748704226004575262...