DTSM New Development

As of September 26, 2024, there were 39 new development projects. Nearly two-thirds of them have been approved, and approximately 23% of them are under construction.


DTSM Retail Space Occupancy

As of November 20, 2024, there were 599 ground-floor commercial spaces in Downtown Santa Monica and 6% of their occupancy was undetermined. Among 563 spaces being determined for their uses, 80% were occupied.


DTSM Business Types

As of November 20, 2024, there were 453 ground-floor businesses in Downtown Santa Monica. About a third of them were accommodation, beverage, and food, followed by retail (24%), and beauty, health, and wellness (20%).


DTSM Hospitality

The average daily rate of hotels in Downtown Santa Monica in January 2025 was $344.

The hotel occupancy rate in Downtown Santa Monica was 65% in January 2025. This lower rate reflects the traditional hospitality cycle, where occupancy typically peaks in the summer months (July and August) and declines during the winter (December and January). Additionally, the wildfire in January likely contributed to the reduced occupancy.


DTSM Business and Employment

The data from the first quarter of 2022 shows that Professional, Scientific, and Technical Services, Healthcare and Social Assistance, and Other Services accounted for nearly half of the business types in Downtown Santa Monica.


In 2021, roughly half of the workforce in Downtown Santa Monica was in the Professional, Scientific, and Technical Services, Accommodation and Food Services, and Information industries.


DTSM Parking


Promenade Foot Traffic

Pedestrian activity serves as a crucial gauge of downtown vitality. DTSM utilizes Placer.ai to meticulously track pedestrian traffic, thereby facilitating accurate estimations of the overall pedestrian engagement within this locale.

 

Much like numerous downtowns across the United States, the Third Street Promenade has experienced a decline in pedestrian activity over the last four years due to the shift to remote or hybrid work prompted by the pandemic and a decrease in tourist visits. In the post-pandemic period, foot traffic fluctuates seasonally, with higher visitor numbers during the summer months.

 

In February 2025, the Third Street Promenade recorded a visitor count of 244,055, representing a 45% increase in foot traffic compared to February 2021.


Promenade Business Types & Retail Space Occupancy

As of March 17, 2025, retail and accommodation, beverage, and food accounted for approximately 91% of all businesses.

 

The occupancy of ground-level, commercial spaces on 1200, 1300, 1400, and the entire Promenade were 69%, 80%, 78%, and 77%, respectively.