01/17/2012 02:45 pm ET

Dennis Hopper Mural Painted By Madsteez In Venice Beach (VIDEO)

Dennis Hopper, one of Venice Beach's most famous artists-in-residence, now lives on in a vibrant new mural in Abbot Kinney.

The beloved actor, artist, photographer and filmmaker was memorialized by artist Madsteez and Venice resident Mar, who started painting it on Christmas Eve of last year. The work was partially inspired by a portrait that Madsteez did when the filmmaker posed for him in 2006.

On Sunday, Madsteez explained on his website:

When my good friend MAR presented me with the opportunity to paint a collaborative mural in Venice Beach, I immediately knew a Dennis Hopper tribute was the only thing fit... We heard 1,000's of comments while painting this piece but the one that means the most was when an older gentleman walked up and matter-of-factly said, "It's about time."

"Dennis was an inspiration to all and will 4 ever be missed," continued Madsteez. Before his death in May 2010, Hopper was a longtime Venice resident whose vast compound served as both studio and gallery during his lifetime. Luxist notes that Hopper hosted "important artists like Jasper Johns and Roy Lichtenstein" at his home." The Abbot Kinney-area compound also contains three townhouses designed by renowned architect Frank Gehry.

Check out the video above for a time-lapse of the painting of the mural and the video below for a look back at Madsteez's original portrait of Hopper.