Recently, in July the Westfield Mall, the biggest mall in San Francisco, to give up property to lenders. It had $558 million in outstanding mortgage debt.
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@unusual_whales
Pretty soon
@Transamerica
you will have to pay me to take the building off your hands.
I stand firm with my offer of $650 as my highest and best offer pending final inspection.
@unusual_whales
I agree - even a cursory view of downtown Vancouver supports the trend of hollowing out city centres.
Rising crime, drugs, homelessness, high rents, and remote work being major contributing causes.
This Isn’t San Francisco, California. This Isn’t Los Angeles. This Isn’t Downtown San Diego Or New York.
This Is Canada Under Justin Trudeau
📍 Vancouver, Canada 🇨🇦
@unusual_whales
They died back in the 80s because of shopping malls and suburbia. Although a recent revival to make them residential hangouts for young professionals gained traction, but Gen Z can't afford them so DT are the realms of urban outdoors people then and now.
@unusual_whales
3 reasons
1. People are broke no extra money
2. Streaming services had made people homebodies
3. Downtowns in cities aren’t safe anymore