Pepperdine Graziadio Interim Dean David Smith Weighs In on Palisades Recovery in CBS Los Angeles Feature

As the Pacific Palisades community continues its long-term rebuilding efforts following last year's devastating fire, Pepperdine Graziadio Business School Interim Dean David Smith recently shared expert insight on the area's economic momentum in a feature reported by CBS Los Angeles's Kara Finnstrom.

The report highlights a community at a pivotal turning point nearly 20 months after the fire, which destroyed roughly 5,500 homes. While only a fraction of those homes have been fully rebuilt so far, recovery efforts are gaining traction—marked by a surge in building permits, local hiring at long-standing businesses like Palisades Hardware, and the major reopening of the 125,000-square-foot Palisades Village shopping center.

Addressing the broader economic landscape, Dave Smith pointed to the critical role major commercial hubs play in driving community-wide revitalization. With survey data suggesting that a prolonged recovery could lead up to 70% of displaced homeowners to relocate, bringing core economic anchors back online is vital for sustaining the area's population and business ecosystem.

Dave Smith emphasized that the return of key commercial centers like Palisades Village creates a powerful ripple effect:

"It's amazing for our community to have that anchor," noted Smith, highlighting that the center's reopening could spur a synergistic return of both local businesses and residential neighborhoods together."

As more than 1,000 property owners now initiate the rebuilding process, Smith’s commentary underscores the vital intersection between business infrastructure, community resilience, and long-term regional economic recovery. Watch the whole interview here.