Part 5/10:
The ongoing presence of homelessness has profoundly impacted the mall’s environment. Staff explain that the only frequently used public restrooms are located on the second floor, and even those are now closing due to hygiene and safety issues. This situation discourages browsing and shopping, further accelerating the decline.
Legal Battles and Foreclosure Woes
The financial distress culminated when the mall's previous operators, Westfield and Brookfield, defaulted on a $558 million loan, with the lenders seizing the mortgage amidst mounting losses. An auction was scheduled to take place, but delays persist as the court reviews bids and due diligence processes. The property's current debt stands at approximately $625 million, starkly valued against its current appraised worth.