LOS ANGELES – Councilmember Ysabel Jurado today welcomed a major step forward for Oceanwide Plaza as The KPC Group and Lendlease filed a purchase agreement in federal bankruptcy court to acquire and complete the long-stalled development, a milestone achieved through her active engagement and advocacy to move the project forward.
“With the KPC Group and Lendlease forming a joint venture to acquire and complete the long-stalled Oceanwide Plaza, we finally have an opportunity to turn this neglected property into a true asset for the City. This milestone is a clear sign that Downtown LA is on the rise,” said Councilmember Jurado. “I look forward to working with them as the sale moves forward to ensure this space serves the community, restores public resources, and delivers real benefits to the people who live, work, and invest in Downtown LA.”
From her first days in office, Councilmember Jurado has worked diligently to engage potential investors and ensure progress on Oceanwide Plaza, with repeated site visits and ongoing coordination across City departments to address safety concerns. She welcomes this major step forward and will continue working to ensure the project delivers lasting benefits for Downtown LA residents, workers, and businesses.