WTF Happened To Santa Monica, California?!

A video on YouTube. In Business & Money, a Krater category.

Summary by Krater

A former resident revisits Third Street Promenade in Santa Monica, California, to examine the current state of empty storefronts, retail closures, crime, and homelessness.

From the video

Answers: What happened to 3rd Street Promenade in Santa Monica?

Retail vacancies on Third Street Promenade
Crime and safety in Santa Monica
Homelessness in Santa Monica and Los Angeles
Cost of commercial rent and real estate
Impact of COVID-19 on brick-and-mortar retail

What it concludes

Santa Monica is safer than just 2% of US cities on a population basis for violent and property crimes.
40% of the Third Street Promenade is currently vacant and unable to be leased.
Retail rent on the promenade ranges from $5 to $20 per square foot, making it difficult for businesses to break even given declining foot traffic.
Substance abuse affects about 75% of the homeless population in Santa Monica, contributing to violent crime incidents.
Proposition 47, passed in 2014, changed misdemeanor theft thresholds in California to under $950, impacting retail crime reporting and enforcement.

Rate it, review it and add it to your lists in Krater.

Titles and thumbnails from YouTube. Krater isn't affiliated with, endorsed by or sponsored by YouTube or Google.