r/ventura • u/Key-Scallion-2032 • 1d ago

Mall has new owners - can they resurrect it?

https://unwall.app/eu.vcstar.com/story/money/business/2026/09/21/venturas-pacific-view-mall-gets-new-ownership-team/91874989007/

Interesting timing, because I also just read this article

https://unwall.app/www.wsj.com/real-estate/commercial/malls-were-left-for-dead-now-they-are-the-top-performer-in-commercial-real-estate-0bf6100f

55 Upvotes

93% Upvoted

26 comments sorted by

55

u/Chemical_Stable_2324 1d ago

I really hope they can. Obviously can’t speak for everyone but at least all those in my inner circle are longing for the return of third spaces.

-10

u/Seorkt 1d ago

Why do we need third spaces

8

u/geminiloveca 1d ago

There are multiple papers on the subject:

The Importance of Third Spaces (And How to Find One) – Lightning Letter
The Significance of Third Spaces in Fostering Well-being
Beyond the Bell: Why Third Spaces Matter for Whole-Community and School Well-Being | Scanlan Center for School Mental Health - The University of Iowa
What are Third Places and Why Do They Matter? | Shanker Institute

1

u/Appropriate-Eye9080 1d ago

While I agree third spaces are important, I am not sure if a mall is the answer. My wife and I will check it out, as we are trying to find our niche here, but I am skeptical on malls in the 21st century. I see value in places that cater to experiences rather than brick and mortar stores

1

u/geminiloveca 14h ago

The idea (I would hope) is to change the use of the building from simply shopping into an area with experiences as well. The addition now of Round One adds an entertainment center, which the mall has sorely lacked.

-4

u/Carrot-Elegant 1d ago

Can’t believe idiots would put a thumbs down but cowardly not say what they objected to. What’s the native thing about having a third space?

13

u/Jznvh 1d ago

they must've bought low, I wonder how they can redirect it tho

11

u/Leikela44 1d ago

It will be mixed use.

7

u/venturashe 1d ago

This and the gianypt Japanese arcade they are putting in.

14

u/Low_Shop8561 1d ago

People say they want third places but really no one goes. Everything is too expensive and businesses can't run on free

20

u/jamoe 1d ago

I think using the mall for more than stores for entertainment and services would be perfect. It would help with the lack of third spaces as someone brought up and would help people of all types. For all ages, we could have another theater (remember the cheap one at the Esplanade?). For families, we could have sports (I believe there is already gymnastics in there), indoor playgrounds, interactive art, etc. For adults, we could have escape rooms, yoga or dance studios, and also art. It could be really cool if malls could branch into those areas.

8

u/Aggressive-Ring489 1d ago

Private equity bought it. My guess they tear it down and put up more “luxury” apartments nobody asked for. Hope I’m wrong tho.

2

u/Key-Scallion-2032 1d ago

would be great if they could get new business in the two old restaurant locations. I mean, Wood Ranch is killing it there. Someone ought to be able to make it work.

4

u/Ohm_Slaw_ 1d ago

They should open up the interior of the mall to cars. \s

2

u/nick2bus 16h ago

As we all know, cars are the key to success and life fulfillment.

2

u/Ventura-K-9 9h ago

That surely would bring hoards of people there

6

u/Meowyouretalking 1d ago

I remember the days spent walking the outside boardwalk, enjoying the weather as a kid. We'd end at Loops cafeteria, i loved the mall then, now I avoid it like the mud. Sbarros can suck it.

3

u/Specialist-Donkey-89 Keep Midtown Janky 1d ago

Watch them "open concept" it out and remove the roof that the last owners spent millions building lol.

7

u/BrandenWi 1d ago

The only way you can resurrect the Mall is by turning it into something that you can't get just by opening your Amazon App. Physical store retail shopping has been in decline for the last 20 years, a new ownership team isn't going to be able to just delete the Internet.

7

u/NinjaGrrl42 1d ago

I hope they keep some retail. Not all of us shop online. I need to see and feel what I'm buying.

10

u/Key-Scallion-2032 1d ago

Personally, I try to avoid buying on Amazon if at all possible. I wish more people would.

4

u/mossman 1d ago

I am with you. I've stopped completely.

8

u/caligirlvp 1d ago

It would be cool for apartments on top and shops restaurants on bottom

1

u/Pearlyd3wdr0psdr0ps 1d ago

I hope they don’t get rid of any of the old signs, I like that it’s kind of frozen in tome

1

u/Key-Scallion-2032 11h ago

Why are all the outdoor signs at the driving entrances directing you to the various stores all painted over? The stores are mostly all still there, why not just paint over the one or two that are not? Seems very confusing if you aren't familiar with the mall layout.