SANTA MONICA - September 3, 2019 -- Downtown Santa Monica, Inc. (DTSM) held its 2019 Annual Meeting to unveil its yearly report on Thursday, August 29 at the Fairmont Miramar Hotel & Bungalows. Over 200 people attended including Mayor Gleam Davis, City leaders, executives, business owners, stakeholders, and members of the public. Attendees were provided an overview of the downtown, update on recent achievements, and a window into the future of Downtown Santa Monica's iconic Third Street Promenade.
DTSM, Inc. Board Chair Rob Rader welcomed guests to the annual meeting, recognizing the 2018-19 year as one of enormous growth and tremendous success in terms of economic stability and community life within Downtown Santa Monica. Rader then introduced Kathleen Rawson, chief executive officer of DTSM, who commented on the 30th anniversary of the redevelopment of the Third Street Promenade and how the successful pedestrian street has been a model and trendsetter for creative retail development nationwide. She noted that after three decades, now is the opportunity for continued evolution of the Promenade to revitalize and create the next generation of community gathering destinations.
Rawson recapped DTSM's successful fiscal year and shared programs and initiatives introduced over the past year to enhance the Third Street Promenade experience. These initiatives included expanding the ambassador program with the addition of a quality of life team and a 24-hour dispatch center to better assist businesses and patrons with their various needs, celebrating the first-ever SAMO Pride in June 2019, and launching The Experiment public space laboratory, part of the Promenade 3.0 project used to test public enjoyment and gather feedback to shape the direction of the Third Street Promenade of the future.
"Shopping, dining, relaxing, a place to bring your visitors. We love that people use the Promenade to show off LA. We have a beautiful public space," said Rawson, as she presented the annual report. "But today's population is looking for complete experiences. They are looking for music, dancing, art, comfort and unexpected but exciting events both day and night. The complete experience is the focus of Promenade 3.0."
Highlights from the 2018-2019 Annual Report Include:
• More than $1.2 billion dollars in taxable sales revenue for the City, a 6.4 percent increase over 2018; $493 million stem solely from the Third Street Promenade, an increase of 4.2 percent over 2017
• 94 percent retail occupancy rate
• More than 29,214 employees in thriving industries such as accommodation and food service; retail trade; professional, scientific and technical services; and information services
• 54 filmings in Downtown Santa Monica and 40 special events hosted on the Third Street Promenade
AREA RESIDENTS & VISITORS
• An estimated 4,367 residents in an estimated 3,096 households
• A residential occupancy rate of 93.3 percent
• An approximate three-block average of 80,036 daily pedestrian impressions at the Third Street Promenade, and more than 29 million total impressions for the year;
Mayor Gleam Davis took the stage to highlight the City of Santa Monica's innovative, diverse and progressive nature and touch on the city's unbreakable bond with DTSM. She commemorated the ambitious partnership to expand the ambassador program even further covering three parks adjacent to downtown, and recently deploying hospitality and maintenance ambassadors in Reed Park to provide a more welcoming experience for residents and visitors.
"It's that type of partnership that has helped Downtown Santa Monica and the Third Street Promenade remain some of the most celebrated public spaces in the world, serving both as the economic engine of our city and Santa Monica's living room where people from all walks of life can come together to share, learn and grow," said Davis.
Davis touched on the Promenade 3.0 initiative and introduced Alan Loomis, city urban designer for the City of Santa Monica, and Steven Welliver, deputy chief executive officer at DTSM, for a panel discussion. Currently celebrating its 30th anniversary, Third Street Promenade is being reimagined to serve the next generation of residents and visitors amid the changing retail environment.
Loomis and Welliver shared updates on Promenade 3.0, the ongoing and extensive public placemaking process to build on the Promenade's lasting legacy. In partnership, the City of Santa Monica and DTSM identified three lanes the project is focused on to best serve all invested in the Promenade's future: effectively manage public space, maximize the utility of private property, and develop supportive physical infrastructure.
Downtown Santa Monica, Inc. also recognized local businesses and stakeholders who contribute significantly to the positive and lasting legacy of the community through its annual Eclipse Awards presentation. The winners include Esther Netter, founder and CEO of Cayton Children's Museum which opened in Santa Monica Place this year, and Adamm Gritlefeld, owner and artist of Adamm's Stained Glass Studio and Art Gallery on Fourth Street.
For more information, and to view the full 2018-2019 Annual Report, visit DTSMAnnualReport.com.
About Downtown Santa Monica, Inc. (DTSM, Inc.)
Downtown Santa Monica, Inc. is a private non-profit 501c(3) that works with the City of Santa Monica to manage services and operations in Downtown Santa Monica that promote economic stability, growth and community life within Downtown Santa Monica. DTSM, Inc. manages the Property-based Business Assessment District (PBAD) that encompasses the area bounded by Ocean Avenue (W), Wilshire Boulevard (N), Lincoln Boulevard (E) and the Santa Monica Freeway (S). For more info, please visit DowntownSM.com or follow us on Instagram and Twitter @dtsantamonica or Facebook at DowntownSantaMonica.