KPC Development Offers to Buy L.A.’s Graffiti Towers for $470M
Kali P. Chaudhuri’s firm and Lendlease could restart construction on the notoriously unfinished development this summer if no other offers are made by April 9
By Nick Trombola February 23, 2026 7:37 pm
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A buyer for the unfinished, graffiti-addled Oceanwide Plaza in Downtown Los Angeles has materialized about one month after a deal was reached to exit bankruptcy.
Kali P. Chaudhuri’s KPC Development, together with partner Lendlease, on Monday filed an initial purchase agreement of $470 million in federal bankruptcy court for the complex. The court could approve the trade if no other offer comes in by April 9, according to the L.A. Times, which first reported the news. The $1 billion, 2 million-square-foot project has been frozen in development limbo since late 2019.
Construction to remediate and finish the 40- and 49-story towers at 1101 South Flower Street could begin later this summer following deal approval, due diligence and development approvals, per the Times. The towers are near Crypto.com Arena, home to NBA’s Los Angeles Lakers, WNBA’s Los Angeles Sparks, and WHL’s Los Angeles Kings.
KPC owns and develops properties across Southern California and India, including the Kali Hotel & Rooftop, a 13-story, 300-room hotel development adjacent to Stan Kroenke’s SoFi Stadium at Hollywood Park. In December, KPC secured a $195 million construction loan to push the project into the endzone.
A representative for KPC did not immediately respond to a request for comment.
Nick Trombola can be reached at ntrombola@commercialobserver.com.
