Vacancy Issues on Santa Monica’s Third Street Promenade
While Third Street Promenade and Santa Monica Place are recognized as prime shopping destinations in the U.S., their current state tells a different story. The once-bustling areas are now marked by numerous empty storefronts.
The Promenade is reportedly facing a 25% vacancy rate, though many visitors, like those interviewed by the California Post, believe it’s closer to around 50%.
“It’s very quiet and pretty nice,” remarked Kevin Taylor, a tourist from England, visiting with his wife. “But honestly, if businesses don’t come back, what’s the point of being here?”
Historically, the Promenade was one of LA’s go-to spots, attracting tourists, local families, and various celebs. A shopper even reminisced about meeting Paul McCartney and Bob Dylan during his visits.
Reports indicate that the decline in interest for Promenade and Santa Monica Place began around 2018, partly linked to the growing homeless issue in the area.
The impacts of the pandemic and the looting that followed really dashed hopes for a revival. Incredibly, there was a 15% rise in the homeless population in Santa Monica just this year, according to city statistics.
A study conducted by the City of Santa Monica revealed pedestrian traffic in 2017 was about 875,000, but by 2023, that number had plummeted to roughly half.
Michael Levine, a former resident and author, expressed his sadness about the current situation at the Promenade, calling it “heartbreaking.” He shared insights into how small signs of neglect can have larger consequences. “When you let things like graffiti or loitering slide, it sends a message,” he explained, “And people do respond: customers drift away, businesses shut down, and investors pull out.”
Although mall representatives and local officials have been reluctant to speak on the record, they have indicated that improvements are in the works.
A new police station will be established on the first floor of Santa Monica Place, which will double the police presence in the area. Moreover, the city plans to invest $60 million into street enhancements, including fresh landscaping at nearby exit ramps.
Santa Monica is also attempting to attract businesses by easing restrictions related to alcohol permits, music, and even arcade games. They’re collaborating with Coachella producer Golden Voice for a music festival and are already hosting monthly community events.
“They’re making significant strides to improve this area,” shared Nick Pascal, a Santa Monica resident since 2010. “If you look around, there’s more for kids to do and activities for everyone. More events should help bring back stores.”
