1y ago

A broke Chinese real estate developer left Los Angeles with empty, graffiti-covered towers and a billion-dollar bill

www.businessinsider.com

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an abandoned real estate project taken over by graffiti artists
They say that like it’s a bad thing.
- Those artists should also plant some hangy-down plants and vines.
  
  You’re thinking of horticulturists, or maybe landscapers. Then we get the movers, won’t take to many, and house the unhoused. Simple.
- Read an article the other day about some of the graffiti that was done. Couldn’t find that one (lol), but this article seems pretty good as well.
i wonder when the words "Chinese real estate developer" will start to sound like nails on chalkboard to people generally
- It blows my mind people still engage with Chinese re developers in the first place after their myriad of failed development at home. How many of those empty new skyscrapers did we see them topple just a few months back?
  
  Money shiny!
  -- the company "decision makers"
They should turn it into low income housing.
- In L.A.? Where it took decades to get a train to the beach because all the people in Beverly Hills didn't want the poors going UNDER their community?
- They should claim it via emminent domain and tear it down. It was poorly built and left vacant for 5 years. I doubt it's safe for people to live there at all.
This happens to real estate companies all over the world, and in the US. The fact that this one developer is Chinese means nothing other than to stoke nationalist fears.
Any developer making a skyscraper has everything run though shell corporations. When things go wrong, it is just that corporation that goes wrong and it doesn't bankrupt the main corporations. This is basic practice. If that Tower was owned by someone living next door, the outcome would be exactly the same. Just less scary and not newsworthy as it happens everyday in the US to zero fanfare.
Seems ripe for becoming shanty town. Just move in, bring your own water and power.
Til lakers arena is called crypto.com arena

14 comments