A product designer from Santa Monica is bringing to light some numbers that many residents have sensed for a while. About 30% of the shops on Third Street Promenade are currently unoccupied.
An interactive map has been created to show the occupancy rates in the area, but the findings aren’t encouraging. With a vacancy rate of 28.5%, it paints a rather dismal picture of a shopping district that used to thrive. Requests for an interview from The Post went unanswered.
The once-bustling Santa Monica Mall, just a couple of blocks from the beach, has seen a shift in dynamics, largely due to the rise of online shopping and an increase in homelessness in the city.
Recently, Misfit Bar and Restaurant, a well-loved eatery located in the historic Clock Tower building, announced its closure after 15 years of operation. This news came shortly after the Post shared the occupancy statistics.
Additionally, Britannia Pub also stated it would be shutting down to make way for a new Taco Bell Cantina, which hasn’t thrilled local patrons.
The owner, LGO Hospitality, opted not to renew the lease due to ongoing frustrations with the property, including issues with ownership and a noticeable drop in foot traffic.
Many prominent retailers, such as Old Navy, Gap, H&M, and AMC, have already fled the area, contributing to the decline in visitors that once flocked to this popular shopping destination.
City officials are trying to turn things around. Recently, Santa Monica’s government approved an expansion of Mini-Bourbon Street, an outdoor area where patrons can enjoy drinks outside along the boardwalk. They’ve also allocated $3 million in funds aimed at attracting more restaurants and businesses.
In addition, plans are in motion for a large music festival scheduled for September, expected to draw between 30,000 and 35,000 attendees.
Yet, for many locals witnessing storefronts closing one after another, the overall sentiment remains quite bleak.
“I hate this,” one user shared on Reddit regarding the closing of Misfit. “It was my favorite bar in Santa Monica. It feels like there’s nothing left downtown.”
