Part 6/10:
The situation mirrors trends seen across California and other urban centers, where rising crime, homelessness, and economic disinvestment have hollowed out traditional retail centers. In Santa Monica, the mall’s debt burden has also worsened, with a $300 million loan default leading to its management being handed over to a court-appointed receiver.
Nearby businesses and community leaders express frustration and disappointment, noting that the vibrant retail hub has transformed into a ghost town. While some new ventures and pop-up attractions attempt to fill the void, these are short-term solutions and insufficient to revitalize the mall's long-term prospects.