Despite its well-documented struggles, signs or progress are now clearly visible at the beleagured Oceanwide Plaza development in Downtown Los Angeles.
The project, which spans a full city block across the street from Staples Center, consists of three towers which will contain 504 condominiums, a 184-room hotel, and a 150,000-square-foot retail podium. The CallisonRTKL-designed development will be wrapped by an LED ribbon stretching the full block of Figueroa Street between 11th and 12th Streets.
Work at Oceanwide Plaza came to an abrupt halt in January 2019, not long after the project became embroiled in an FBI corruption probe of Los Angeles city officials. This followed months of rumored cost overruns that had seen Oceanwide blow past its original $1 billion budget.
Current activities at the site are limited to its largest building, a 49-story edifice 11th and Figueroa Streets which will house a Park Hyatt hotel and branded condominiums. In recent weeks, crews have started assembling the frame of the tower's architectural crown, which will be illuminated at night. Additionally, metal structures have been installed at the building's podium to support the proposed LED screen.
A timeline for completion of the hotel tower, as well as the two condo buildings and retail podium, remains unclear.
Though Oceanwide Plaza's construction schedule has not gone to plan, other projects on surrounding blocks have progressed at a more rapid pace, including the twin towers of Circa, which opened last year, and Onni Group's Hope + Flower apartments, which are scheduled to open in late 2019.
- Oceanwide Plaza (Urbanize LA)