Maguire said unsavory street activity has been a factor in scaring off potential tenants, but not as much as costs of building or the decline of brick-and-mortar shopping.

“If you are not used to it, the homeless problem can be threatening and intimidating,” Maguire said. “It is something that is real and has to be addressed, and I am confident it is being addressed. But if that was the only issue, we would be leased up by now. Throw in the costs and retail thinning out generally and you have a challenging environment.”

Cypress Equities’ struggle to fill the empty mall comes after a six-year period in the revitalization of Mid-Market Street, which has been a top economic development priority for the city. During that time, the city successfully lured companies such as Twitter, Uber, Dolby and Square to the neighborhood by offering a tax break.