A sharp reduction in violent crime starting in 2004 and massive private investment in former mill buildings along the Merrimack River, including the remaining section of the historic Wood Mill – to be converted into commercial, residential and education uses – have lent encouragement to boosters of the city. One of the final remaining mills in the city is Malden Mills. Lawrence's downtown has seen a resurgence of business activity as Hispanic-owned businesses have opened along Essex Street, the historic shopping street of Lawrence that remained largely shuttered since the 1970s. In June 2007, the city approved the sale of the Intown Mall, largely abandoned since the early 1990s recession, to Northern Essex Community College for the development of a medical sciences center, the construction of which commenced in 2012 when the InTown Mall was finally removed. A large multi-structure fire in January 2008 destroyed many wooden structures just south of downtown. A poor financial situation that has worsened with the recent global recession and has led to multiple municipal layoffs had Lawrence contemplating receivership. On February 9, 2019, in recognition of the role the town has played in the labor movement, Senator Elizabeth Warren officially announced her candidacy for President of the United States in Lawrence.