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Rick Caruso’s vote of confidence in Palisades — and what it means for LA

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The reopening of the Palisades Mall is a great achievement for Rick Caruso and his team. But it is also a vote of confidence in Los Angeles, and California.

Caruso had every reason to walk away. Though he saved the mall from the Palisades Fire last January with fire-resistant materials and private firefighters, the damage from smoke and water was staggering.

It took $100 million to restore the mall. That money will not be easy to recoup — not with the town around it still largely uninhabited. Pacific Palisades is not a short drive from the rest of the city; without local customers, the mall will struggle to make money. 

Caruso is taking a big risk.

He’s doing it, moreover, after losing the election for LA mayor in 2022 after spending over $100 million. 

He led the race against Karen Bass in the early stages, only to be........

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