To keep the Third Street Promenade a bustling shopping and entertainment center, the council is being asked to amend a consulting contract with IJM Enterprises to study the potential redevelopment of movie theaters.
The contract amendment will be for $50,000 and pay for IJM’s assistance in evaluating offers to redevelop Parking Structure No. 3 on Fourth Street, creating a mixed-use project that would include a state-of-the-art theater.
The Promenade Uses Task Force, which was created by the council in 2001 to study the best way to enhance the vitality of Downtown and maintain the proper balance of uses on the promenade, looked at the mix of retail, restaurant and entertainment options and concluded that the existing cinemas in the Bayside District are outdated and likely will become less competitive in the near future unless than can provide amenities like stadium seating.
Originally published in the Santa Monica Daily Press print edition on July 8, 2008. Read the original PDF.