The delinquent owner of the empty husk of the 2.4M SF Oceanwide Plaza mega-development—a Chinese-owned company now being liquidated in Bermuda—soon will be getting a very large bill from the City of Los Angeles.
The bill will cover the cost of erasing a global embarrassment that was broadcast around the world during the Grammy Awards, which were held on Feb. 4 at the Crypto.com arena in Downtown L.A., across the street from the shuttered Oceanwide Plaza construction site.
We use the term "shuttered" loosely here, meaning that there hasn't been any construction at the unfinished site since 2020, when owner China Oceanwide Holdings ran out of money.
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