INSIDE
Santa Monica Favorite Esters Rebrands as Esters Wine Shop & Oyster Bar smmirror.com
July 4 - July 10, 2025 Volume CXXIII Issue 214
See Page 10
Why Nordstrom Says It’s Closing Its Santa Monica Place Location A Nordstrom spokesperson explained the closure as a strategic realignment
Nordstrom confirmed its decision to close its Santa Monica store at 220 Broadway, with the final day of business set for Aug. 26 shifting focus to serving customers through nearby stores and digital platforms. The move reflects broader challenges facing the Santa Monica Place mall, where shifting ownership and declining property value have raised concerns about its future as a retail hub. A Nordstrom spokesperson explained the closure as a strategic realignment, stating the company believes it can better meet customer needs outside the current location. The retailer pledged support for affected employees, offering assistance to
those seeking other roles within Nordstrom. The store, near the Santa Monica Pier and Third Street Promenade, has long been a destination for brands like Free People, Nike, and Zella, offering clothing, shoes, cosmetics, and services such as personal styling. The closure coincides with significant changes at Santa Monica Place. In April, Macerich defaulted on a $300 million loan, leading to Trigild, a courtappointed receiver, taking control. Trigild subsequently hired Prism Places to manage the Frank Gehry-designed mall, which underwent a $265 million renovation in 2010. Prism CEO Stenn Parton, whose Pacific Palisades home was lost in recent fires, aims to revitalize the property, citing its potential as a community anchor ahead of the 2028 Los Angeles Summer Olympics. However, the mall’s value has been questioned, with the loan default signaling financial strain amid vacancy and post-fire recovery challenges in the westside area. Opened in 1980 as Gehry’s first mall
design, Santa Monica Place has historically drawn tourists and locals. Macerich’s 1999 acquisition and failed 2004 redevelopment plan to replace it with high-rises highlight its evolving role. Parton remains
optimistic, pointing to policy changes and the Olympics as opportunities to restore the mall’s appeal, though the Nordstrom exit underscores ongoing difficulties in maintaining its retail prominence.
Santa Monica Adopts $793.3M Budget, Prioritizing Housing and Safety The budget preserves core services and invests in major projects, including over $1 billion in hotel investments
The Santa Monica City Council approved a $793.3 million biennial budget for fiscal year 2025-26 and $829.7 million for 202627, alongside the second year of the 202426 Capital Improvement Program, during its Tuesday meeting. Facing declining revenues from international tourism, sales tax, hotel tax, and parking fees, compounded by legal liabilities and global economic uncertainty, the city implemented a hiring freeze for non-critical positions and reallocated existing funds. Voter-approved Measure K funded enhancements, including a new police sergeant, a community services officer, security upgrades at public facilities,
a mobile Advanced Provider Unit for homeless care, and an ambulance operator program within the Fire Department. “This budget balances realism with optimism,” Mayor Lana Negrete said in a statement. “It recognizes financial challenges while making smart, focused decisions to keep Santa Monica moving forward.” The budget preserves core services and invests in major projects, including over $1 billion in hotel investments, 7,721 new housing units, the Pier Bridge replacement starting in late 2025, and the reimagining of Santa Monica Airport. The city anticipates economic boosts from upcoming events like the FIFA World Cup, Super Bowl, and LA28 Olympics. Finance Director Oscar Santiago emphasized disciplined financial planning, stating, “We’ve taken a responsible approach to close funding gaps, maintain core services, and invest in areas that best serve our residents.” Additional measures include increased parking permit fees, expanded license plate recognition in downtown parking facilities, and new fines to deter municipal code violations. The budget also allocates $25,000 annually to the Early Childhood Task Force and begins repaying $47.2
million borrowed from the Housing Trust Fund. The council also adopted resolutions to establish new job classifications, revise permit and parking fees, set the Gann
appropriations limit at $3.27 billion, and allocate $2.4 million in state road repair funds. The FY 2026-27 budget will return for final adoption in May 2026, as required by the city charter.