Santa Monica’s iconic Third Street Promenade, once a bustling hub of activity and commerce, has seen a dramatic decline in recent years. The once vibrant open-air mall, just blocks from the lively Santa Monica Pier, now stands eerily quiet, with vacant shops and empty sidewalks.
This narrative traces the promenade’s history, from its inception as a visionary pedestrian-only zone in the car-centric landscape of Southern California, through its various peaks and valleys, to its current state of uncertainty.
A Visionary Beginning
In the 1960s, the Third Street Promenade, then known as the Santa Monica Mall, was designed to revitalize the city’s downtown. It was a time of urban renewal, and the promenade, with its outdoor design and pedestrian-friendly atmosphere, was seen as a model for future urban spaces.
The promenade thrived for several decades, becoming a popular destination for tourists and locals alike. It boasted a mix of national retailers and local shops, offering something for everyone.
The Winds of Change
The decline began about a decade ago, coinciding with the retail apocalypse that swept across the country, according to a recent report in SF Gate. National retailers began to struggle, and many closed their doors. The promenade, once a magnet for these brands, found itself with a growing number of empty storefronts.
The rise of e-commerce and the COVID-19 pandemic further exacerbated the situation. Lockdowns and travel restrictions dealt a heavy blow to the promenade’s businesses, many of which never recovered.
Rising inflation and the increasing cost of living in Santa Monica also played a role. High rental prices made it difficult for new businesses to move in, while existing ones struggled to stay afloat.
The latest data from Downtown Santa Monica reveals a 25 percent vacancy rate for ground-floor commercial spaces on the promenade, with only 73 out of 97 spaces currently occupied. This vacancy issue is particularly noticeable in the promenade’s 1200 block, where over 38 percent of spaces remain empty.
A Glimmer of Hope
Despite the challenges, there are signs of hope for the promenade. The city has loosened zoning laws, allowing for a wider variety of businesses to operate in the area. New businesses like Pickle Pop, an indoor pickleball facility with a bar and lounge, have found success by offering unique experiences that cater to the changing tastes of consumers, the report stated.
The city is also investing in more housing and hospitality options, aiming to attract more residents and tourists. With the 2028 Olympics on the horizon, there is a renewed focus on revitalizing the area.
An Uncertain Future
The future of the Third Street Promenade remains uncertain. While there are promising developments, the challenges are significant. High rental prices, the ongoing retail apocalypse, and broader economic trends all pose threats.
However, the promenade’s unique location, its pedestrian-friendly design, and the city’s commitment to revitalization offer hope. If the city can attract a diverse mix of businesses that cater to the needs and interests of both residents and tourists, the promenade could once again become a thriving destination.
