About five years ago, a project in downtown Los Angeles, called Oceanwide Plaza, halted construction. I don't know exactly what happened, but the reports suggest corruption, financing problems, and the Chinese developer running out of money.

Under typical circumstances, once you secure your financing and start construction, it should mean that you have enough money to finish the project. That is unless there are significant cost overruns, you experience a cash crunch somewhere else, and/or somebody does something bad.

In fact, on some projects, the peak equity requirement occurs before construction commencement, meaning that once you do secure your construction facility, you should be able to reduce the amount of equity that you have remaining in the project (i.e. you can pull out some cash).

Here it sounds like a combination of things went sideways. And now today, Oceanwide Plaza looks like this:

The towers have been tagged pretty much all the way up. And it kind of looks like each artist commandeered their own suite in the building. Not surprisingly, this has been attracting a lot of attention and debate. The project is also across the street from the Crypto.com Arena and so there are a lot of eyeballs on it.

On the one hand, you have artists being creative and doing something with an abandoned set of buildings -- ones that are beset with corruption charges and that people are generally upset about. But on the other hand, you have a busted project, and you have artists trespassing and creating what others see as another symbol for a spiralling downtown.

LA police are reporting that the site is going to be better secured and that all of the graffiti will be removed. But until then, this has got to be one of the tallest expressions of graffiti ever created.

If you've ever been to Paris, you've probably noticed the small pixelated art pieces that are scattered all around the city on buildings and various other hard surfaces.

Or maybe you haven't seen or noticed them in Paris, but you've seen similarly pixelated mosaics in one of the other 79 cities around the world where they can be found.

Or maybe you have no idea what I'm talking about right now. Huh? Here's an example from Bolivia (click here if you can't see the embedded post below):

These pixelated urban art pieces are the work of French artist Invader. Modeled after 8-bit video games from the 1970s and 1980s, Invader has been installing these mosaics since 1998 as part of his broader "Space Invaders" project. The first one was installed in Paris.

No two pieces are alike and they're all made out of ceramic tiles so that they last. Invader also meticulously researches and then records each install location. He is basically trying to take over the world with his "invasions". As of today, there are 4056 invaders in 80 cities.

Here's a map. Sadly there are none in Toronto.

The goal of the project is to liberate art from what Invader calls "its usual alienators", that being museums and other institutions. It is about bringing art out and into the public realm so that everyone can enjoy it. And this is precisely what makes his mosaics so wonderful -- it is their playful integration into the urban landscape.

But these aren't exactly sanctioned pieces of art. If he started out by asking, the answer probably would have been no.

Invader thinks of himself as a kind of hacker of public realms. He keeps his identity concealed. He installs these mosaics during the night (from what I have read). And sometimes he gets in a lot of trouble.

Sometimes they also get removed by the building owner, though at this point his mosaics are pretty well known, so I can't imagine many owners not wanting to be "invaded."

But let me ask all of you this: If you owned a building in a major city and woke up tomorrow morning to a Space Invader on the front of it, would you celebrate it, apathetically leave it, or would you remove it immediately?

About five years ago, a project in downtown Los Angeles, called Oceanwide Plaza, halted construction. I don't know exactly what happened, but the reports suggest corruption, financing problems, and the Chinese developer running out of money.

Under typical circumstances, once you secure your financing and start construction, it should mean that you have enough money to finish the project. That is unless there are significant cost overruns, you experience a cash crunch somewhere else, and/or somebody does something bad.

In fact, on some projects, the peak equity requirement occurs before construction commencement, meaning that once you do secure your construction facility, you should be able to reduce the amount of equity that you have remaining in the project (i.e. you can pull out some cash).

Here it sounds like a combination of things went sideways. And now today, Oceanwide Plaza looks like this:

The towers have been tagged pretty much all the way up. And it kind of looks like each artist commandeered their own suite in the building. Not surprisingly, this has been attracting a lot of attention and debate. The project is also across the street from the Crypto.com Arena and so there are a lot of eyeballs on it.

On the one hand, you have artists being creative and doing something with an abandoned set of buildings -- ones that are beset with corruption charges and that people are generally upset about. But on the other hand, you have a busted project, and you have artists trespassing and creating what others see as another symbol for a spiralling downtown.

LA police are reporting that the site is going to be better secured and that all of the graffiti will be removed. But until then, this has got to be one of the tallest expressions of graffiti ever created.

If you've ever been to Paris, you've probably noticed the small pixelated art pieces that are scattered all around the city on buildings and various other hard surfaces.

Or maybe you haven't seen or noticed them in Paris, but you've seen similarly pixelated mosaics in one of the other 79 cities around the world where they can be found.

Or maybe you have no idea what I'm talking about right now. Huh? Here's an example from Bolivia (click here if you can't see the embedded post below):

These pixelated urban art pieces are the work of French artist Invader. Modeled after 8-bit video games from the 1970s and 1980s, Invader has been installing these mosaics since 1998 as part of his broader "Space Invaders" project. The first one was installed in Paris.

No two pieces are alike and they're all made out of ceramic tiles so that they last. Invader also meticulously researches and then records each install location. He is basically trying to take over the world with his "invasions". As of today, there are 4056 invaders in 80 cities.

Here's a map. Sadly there are none in Toronto.

The goal of the project is to liberate art from what Invader calls "its usual alienators", that being museums and other institutions. It is about bringing art out and into the public realm so that everyone can enjoy it. And this is precisely what makes his mosaics so wonderful -- it is their playful integration into the urban landscape.

But these aren't exactly sanctioned pieces of art. If he started out by asking, the answer probably would have been no.

Invader thinks of himself as a kind of hacker of public realms. He keeps his identity concealed. He installs these mosaics during the night (from what I have read). And sometimes he gets in a lot of trouble.

Sometimes they also get removed by the building owner, though at this point his mosaics are pretty well known, so I can't imagine many owners not wanting to be "invaded."

But let me ask all of you this: If you owned a building in a major city and woke up tomorrow morning to a Space Invader on the front of it, would you celebrate it, apathetically leave it, or would you remove it immediately?