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A $470 million bid to complete LA’s stalled Oceanwide Plaza towers has been approved, aiming to end years of neglect and graffiti.
A bankruptcy court has accepted a $470 million bid from KPC Group and Lendlease for the unfinished Oceanwide Plaza towers in downtown Los Angeles, also referred to as the "graffiti towers."
Pending final court approval, the sale intends to put an end to years of inaction and safety issues brought on by trespassing and vandalism.
Cleanup and redevelopment are anticipated to start following approval, and the new owners intend to finish the stalled mixed-use project, which includes offices, retail, a hotel, and residential units.
The sale is endorsed by city officials as a step toward downtown revitalization.
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Se ha aprobado una oferta de $470 millones para completar las torres estancadas de Los Ángeles, Oceanwide Plaza, con el objetivo de poner fin a años de abandono y graffiti.