The continuous downfall of the Third Street Promenade
Residents of Santa Monica are no longer taken aback by the crippling state of the Third Street Promenade – for some it is a normalcy they have always known, and for others, it is a fall from grace they have come to accept.
Nevertheless, this decline has been evident through nearly half a decade, and as of 2025, it shows no signs of halting. Household establishments including H&M, which opened in 2008; Lemonade, in 2016; and the AMC 4, whose building has housed various cinema corporations for over 90 years, have all recently closed.
These are just another string of losses that further distance the Promenade from its past familiar prowess. According to the latest data and research report done by the City of Santa Monica in November 2024, the Promenade’s total vacancy for ground-level commercial spaces reached 17%. Such a percentage may seem small at first. But, when you consider the Promenade’s close proximity to renowned attractions like the beach and the pier it becomes strange as to why real estate isn’t in greater demand.
Provided in the same report is a chart which quantifies the foot traffic that the Promenade received from 2017-2024. In the street’s history, within the scope of the table, the pinnacle of foot traffic can be seen prior to 2020, with a foot count of 875,172 in July 2017.
Post 2020, the toll of the pandemic is undeniably prevalent. The height of foot traffic in July 2023 dropped to a mere 524,304. It didn’t stop there – in July 2024 the foot count was recorded at 438,811; this is another decrease of 100,000 pedestrians within one year. All in all, these findings outline the lowering tides of business and consumerism that have formed a meager confluence of output, which is barely enough to sustain the Promenade.
Yet, despite recent performances, the future of the Third Street Promenade does not appear to be wholly negative. There have been evident attempts to combat vacancy percentages and attract audiences again, namely with the opening of various interactive establishments.
For example, the Two Bit Circus is described on its website as being a high-tech venue that provides virtual reality along with a plethora of arcade games. Also, the newly inducted Holey Moley is a miniature golf course and bar. These are establishments that have the potential to entice both the young and the mature.
Even Barnes & Noble has returned to the Promenade after being gone for almost six years. Lastly, upon the horizon there is a Google store set to open on March 7.
To shed another glimmer of optimism, Tati Simonian, the public information officer for the City of Santa Monica, made it apparent when speaking to The Corsair that Santa Monica officials are not going to let the Promenade fall by the wayside after the recent attempts to bring back traction were commented on. “Yes! You’re right, we’re seeing innovation brought on with help from policy work being done on a local level,” she said.
Simonian also mentioned that the city has streamlined the process of getting permission to use existing land. Other convenience measures have allowed for fewer zoning restrictions, more entrances within the Promenade that lead to upper floors, and fewer requirements for restaurants to serve on-site alcoholic beverages. These are thus supposed to make it easier for businesses to operate and flourish.
The Third Street Promenade is a relic that is near and dear to the heart of Downtown Santa Monica. In fact, it is arguably the heart of Downtown Santa Monica itself. There is no doubt that the Promenade cultivates long lasting memories for tourists and locals alike. If we wish to see the 65-year-old shopping center continue on, we must take notice of its continuous decline and offer our support as a community.