Santa Monica is making its most aggressive economic comeback in years.
The early signs are promising.
The city committed $60M to the fundamentals: public safety, street repairs, lighting, and urban greening.
The theory being that private capital follows livability.
The bet is already paying off - the city stabilized its operating budget a full year ahead of schedule.
On top of that, the City Council recently approved a sweeping business incentive package: a $3M economic development fund, eliminated restaurant fees, discounted parking, film permit waivers, and $750K in grants tied to the FIFA World Cup and 2028 Olympics.
The Entertainment Zone (the first of its kind in SoCal) now allows drinking alcohol outdoors along the Third Street Promenade.
Goldenvoice (the team behind Coachella) is producing a new annual beachfront music festival adjacent to the Santa Monica Pier starting fall 2026.
Early private sector movers, including a Bay Area biotech and an AmLaw 125 law firm, are already planting flags.
New restaurants are opening and reporting strong sales.
Still work to be done.
But the foundation is being laid, the momentum is real, and the 2026–2028 global events cycle (World Cup → Super Bowl → Olympics) gives the city a massive tailwind.
Worth watching 👀
@MayorFrey Yes one of fastest growing areas but wont be for long as new development has basically stopped. A few projects in pipeline but nothing like what was completed over last handful of years.
@natehoodstp Why not engage AEON, PPL, CommonBond, etc to help facilitate the development/improvements ? These groups know what they are doing and can get the job done right.
Big win for @CityStPaul Midway area if this happens and gets retail filled!
St. Paul's Midway Marketplace sold to entity linked to H Mart - Minneapolis / St. Paul Business Journal https://t.co/izjJJrYs2t via @mspbjnews