Empty Towers in Los Angeles: Why Hundreds of Condos Sit Unoccupied

September 13, 2026 - 21:18

A review of property records for the Metropolis condo complex in downtown Los Angeles has found that roughly one third of its units remain owned by the developer, a company backed by the Chinese state. The discovery has raised questions about how the sprawling development came to hold so many empty homes while the city struggles with a severe housing shortage.

The complex, made up of several glass towers near the Staples Center, was pitched as a symbol of luxury and international investment when it opened. Today, many of its windows stay dark at night. Records show that hundreds of units have never been sold, and some have sat vacant for years.

Critics point to a mix of factors. Foreign buyers once treated Los Angeles real estate as a safe place to park money, but changing economic conditions and tighter capital controls in China have cooled that demand. At the same time, the developer has reportedly been slow to lower prices, preferring to hold the units rather than sell at a discount.

For local residents, the situation is frustrating. Thousands of people sleep on the streets each night while brand new apartments sit empty in the same city. Housing advocates argue that the case shows how speculative investment can distort the market, turning homes into financial assets instead of places to live. Whether the remaining units will ever be filled, or whether they will stay as ghost condos, remains an open question.