Revitalizing Downtown Santa Monica: Ideas from the “Future of Downtown” Panel
March 06, 2026 – 01:00 PM Pacific Daylight Time
Leaders from across entrepreneurship, finance, real estate, and innovation gathered in Santa Monica this week for the Future of Downtown Santa Monica forum, hosted by California Affordable Lodging Solutions (CALS), a 501(c)(3) nonprofit, in partnership with the City of Santa Monica.
The event convened regional stakeholders to explore ideas and partnerships that could help revitalize downtown Santa Monica and strengthen the city’s economic future.
The Future of Downtown Santa Monica forum brought together a diverse group of ecosystem leaders, including Rohit Shukla, CEO of Larta Institute; Andrew Swerdloff, COO & CFO of CALS, Scott Painter, entrepreneur and CEO of TrueCar; Jake Zacuto, founder of the Zacuto Group; Jason Chouluchas, a commercial real estate finance and capital markets expert; and Corvas Brinkerhoff, founder of Submersive Concepts, an immersive wellness venture. Together, the panel examined the economic shifts reshaping Santa Monica and the opportunities that could drive its revitalization.
A Moment of Transition for Downtown
Speakers acknowledged that Santa Monica is navigating a period of transition. Like many urban centers, the city has experienced elevated office and retail vacancies following shifts in work patterns, investment cycles, and consumer behavior in the years since the pandemic.
At the same time, the panel emphasized that Santa Monica continues to hold powerful structural advantages. The city remains one of the most recognizable coastal destinations in the United States, attracting millions of visitors each year while sitting at the center of Southern California’s dynamic innovation economy.
With proximity to leading universities, research hospitals, and major aerospace and technology companies across the Los Angeles region, the foundations for long-term growth remain strong. The challenge now is how to activate those assets in ways that attract new businesses, talent, and investment.
From Space to Experience
A recurring theme throughout the discussion was that downtown districts are no longer competing solely on retail or office space. Increasingly, they compete on experience.
Consumers, workers, and visitors are looking for places that offer connection, culture, and memorable moments. As more aspects of daily life move online, physical environments that foster community and shared experiences are becoming more valuable.
Panelists discussed how experiential venues, cultural programming, and creative uses of space could play a larger role in drawing people back to downtown Santa Monica. From immersive entertainment to wellness-focused destinations and public events, these types of experiences can transform underutilized spaces into vibrant gathering points.
Building an Innovation Ecosystem
Another key theme focused on the importance of ecosystem thinking in regional economic development.
Innovation hubs rarely emerge by accident. They grow when entrepreneurs, research institutions, investors, and civic leaders align around shared priorities and create environments where companies can start, scale, and remain rooted.
Santa Monica already hosts many of these ingredients—from creative talent and technology companies to research institutions and capital networks across Southern California. Strengthening the connections between these assets could help position the city more clearly within the region’s rapidly expanding innovation landscape.
Panelists also pointed to the opportunity for mixed-use environments that combine workspace, experimentation, culture, and public gathering spaces. Rohit Shukla pointed out that with its coastal location and creative identity, Santa Monica could host destinations similar in spirit to Chelsea Market in New York—places where food, events, tourism, and innovation coexist—while also creating spaces where entrepreneurs and researchers explore, build, and deploy solutions in emerging sectors such as ocean and climate technology. Santa Monica Bay is a potential site for exploring innovative solutions to ocean-specific climate issues and expand its footprint in innovation, tied to Santa Monica College as a learning and education asset.
The Role of Public–Private Collaboration
Participants also highlighted the importance of collaboration between the private sector and local government in shaping downtown’s future.
Revitalizing urban districts requires coordinated action across policy, investment, infrastructure, and community engagement. When these efforts align, cities can accelerate redevelopment, reduce barriers for businesses, and create environments where entrepreneurs and investors feel confident building long-term projects.
Turning Ideas into Action
Events like the Future of Downtown Santa Monica forum are designed to spark these kinds of conversations—bringing together stakeholders who can translate ideas into partnerships and initiatives.
For organizations like Larta Institute, which works globally to help innovators commercialize technologies and build resilient innovation ecosystems, the discussion reflects a familiar lesson: meaningful transformation happens when diverse actors collaborate around shared goals.
Santa Monica’s next chapter will depend on that kind of collaboration—turning dialogue into action and building a downtown that once again draws people, companies, and ideas together.
