For most of the past two years, Los Angeles has watched Oceanwide Plaza mainly through headlines about what was happening on top of it. Base jumpers parachuting off the unfinished towers. Taggers scaling scaffolding to cover 40 stories in graffiti. A mayor threatening to bill an absent Chinese conglomerate for cleanup it would never pay.
This week, the building’s future stopped being about the paint.
A federal bankruptcy judge in Los Angeles said Monday she would confirm a plan sending the $1.2 billion, three-tower complex to a new owner, ending years of stalled litigation over a site that has sat unfinished since 2019. “I will be delighted to enter an order confirming the plan,” Judge Deborah Saltzman said during a Downtown LA hearing that ran most of the day…