May 17, 2022 Breaking News, Latest News, and Videos

Downtown Santa Monica Faces The Recession:

The downturn in the economy has impacted all of Santa Monica’s commercial districts but Downtown Santa Monica hasn’t been hit as hard as the City’s more upscale areas.

The Bayside District Corporation (BDC) Director of Marketing, Debbie Lee, told the Mirror Downtown Santa Monica “hasn’t seen a huge decrease in foot traffic” during the recession however, people are spending less per visit. The area’s vacancy rate has not noticeably increased because vacancies have been filled quickly. The Downtown area’s restaurant/retail rate has also remained the same as before.

Rob York, BDC’s Retail Leasing Consultant, explained at the moment “there are very few leases turning over.” There is also more increased interest by large and small tenants in the Downtown area as well as more flexibility being shown by landlords with rents than a year ago. However, “fewer tenants are in an expansion mode than a year ago” especially those on the higher end. He also noted that when “Santa Monica Place (SMP) comes on line it will” cause some of the spaces on the Promenade to reshuffle because some of the tenants that moved out of SMP before its re-model may move back in.”

Lee also mentioned the BCD is also increasing its marketing efforts to bring more business to the Downtown area. These efforts include the “Buy Local Campaign” which emphasizes that buying local makes a difference in out local economy and is a sustainable practice. They are also inviting more businesses to participate in the employer rewards program. This program gives employees who work in Downtown Santa Monica discounts at downtown businesses. They have also seen an increase in the number of downtown employees taking advantage of the program’s benefit.

Other marketing efforts involve promoting the area for tourism and redeveloping the branding for Downtown Santa Monica and the Third Street Promenade to be more tangible and competitive. Lastly, the BCD according to Lee is “working hard to make the upcoming holiday season unique.” She also emphasized the area “still offers a unique experience and that has not changed due to downturn in the economy.”

The Mirror also spoke to Barbara Bryant who is one of the owners of Interactive Café. Her café has not experienced any drop off in business because of their approach of “keeping quality up and prices down.” She also credits the loyalty of her local customers for keeping the café successful during the recession by noting “Santa Monica has a sense of community that’s getting harder and harder to find these days.”

King Seafood owns both iCugini and Ocean Avenue Seafood in Downtown Santa Monica as well as 15 other restaurants. King Seafood’s owner, Jeff King, told the Mirror the bottom fell out of the restaurant industry last September and October but “now things are slowly recovering.” People who can afford to eat out have lowered the amount they are eating out because now the “national and international psyche is to save for a rainy day.” He hasn’t had to close any restaurants but has had “to operate smarter” which has included cutting back on his staff’s hours and not replacing people who have left. He also will not be opening any new restaurants in 2009 but he has expanded into the fabrication and distribution business in order to save money and get a more high quality and varied product.

in News
Related Posts

Man Who Murdered His Family Members Pleads Guilty To Five Other Killings

May 16, 2022

May 16, 2022

Escobar injured an additional seven other people as well.  By Dolores Quintana A man, Ramon Escobar, has pleaded guilty to...

The price of gasoline in Los Angeles County Has Experienced The Largest Increase Since February

May 16, 2022

May 16, 2022

Gasoline prices in Orange County Have Also Increased By Dolores Quintana Regular self-serve gasoline in the county of Los Angeles...

Santa Monica Travel Summit Of 2022 Returns To Take On Tomorrow

May 16, 2022

May 16, 2022

The Event Was Held At The Jonathan Club On Santa Monica Beach By Staff Writer The 2022 Santa Monica Tourism...

City Council Extends Santa Monica’s Parklet Program: Santa Monica Beat – May 16th, 2022

May 16, 2022

May 16, 2022

Local news and culture in under 5 minutes.* City Council Extends Santa Monica’s Parklet Program * Santa Monica High School Students...

1221 Ocean Avenue Complex Sold For Record Price

May 16, 2022

May 16, 2022

Sold for a record price of $330 million. By Dolores Quintana The Irvine Company has sold 1221 Ocean Avenue to...

Office Construction Is Starting To Rise In Los Angeles

May 15, 2022

May 15, 2022

Property vacancies are still affecting growth.  By Dolores Quintana In March, the Los Angeles Metropolitan area had 3.2 million square...

Santa Monica City Council Selects Doug Sloan as New City Attorney

May 12, 2022

May 12, 2022

At its meeting this week, the Santa Monica City Council appointed Doug Sloan to serve as Santa Monica’s next City...

Landmark Theater Closing in Former Westside Pavillion

May 12, 2022

May 12, 2022

Theater will close at the end of month By Sam Catanzaro The Landmark Pico theater at the former Westside Pavillion...

Community Policing at the Heart of Beat Four

May 11, 2022

May 11, 2022

The Neighborhood Resource Officer (NRO) Program thrives through community involvement and collective work. Today we hear from Officer Aaron Alpert...

Santa Monica High School Among Top-900 Schools in Country

May 10, 2022

May 10, 2022

SAMOHI ranked 829 out of over 18,000 total schools By Staff Writer Santa Monica High School is among the top...

Pico Marketplace Changing Small Businesses Access to Retail Space: Santa Monica Beat – May 10th, 2022

May 10, 2022

May 10, 2022

Local news and culture in under 5 minutes.* Pico Marketplace Changing Small Businesses Access to Retail Space* Grunion Fish Seen...

Video: Westside E-Scooter Injury Rate High Than National Rate for Motorcycles

May 10, 2022

May 10, 2022

The Westside’s injury rate for e-scooters is higher than the national rate for motorcycles, a new study has found. Learn...

Douglas Sloan Set to be Santa Monica’s New City Attorney

May 9, 2022

May 9, 2022

Sloan would be first permanent person to hold post in two years By Dolores Quintana  The next Santa Monica City...

Santa Monica Releases 2022 Homeless Count Results

May 9, 2022

May 9, 2022

Number of unsheltered individuals increases 1 percent in first count since 2020 By Dolores Quintana and Sam Catanzaro The City...

Amazon Bringing 1,000 News Jobs to Santa Monica

May 6, 2022

May 6, 2022

Company signs a lease for a 200,000-square-foot space at the Water Garden  By Dolores Quintana Amazon.com intends to create 2,500...