INSIDE
Major Retailer to Leave Third Street Promenade for Marina del Rey smmirror.com
May 1 – May 7, 2026 Volume CXXIII Issue 214
See Page 6
Suspect Arrested on Ocean Ave After Officers Recover Firearm, Paraphernalia The suspect was already participating in a diversion program
A suspect was arrested Friday after Santa Monica police recovered a loaded firearm, nitrous oxide and drug paraphernalia during a patrol in the city, authorities said. The arrest occurred April 24 in the 2000 block of Ocean Avenue, where officers conducting a proactive patrol made contact with the individual, according to a statement from the Santa Monica Police Department. Police said the suspect was found in possession of a loaded gun along with nitrous oxide and drug-related items. The individual was taken into custody on charges related to firearm possession and drug offenses. Authorities added that the suspect was already participating in a diversion program stemming from a prior robbery case. No additional details about the suspect’s identity or potential court appearance were immediately released.
Hankey Capital unveils 23-story condominium tower plans for downtown Santa Monica The proposed 256foot skyscraper near the E Line would replace existing rentals with 119 luxury units and five affordable residences.
Renderings for a 23-story residential tower proposed near the E Line have been submitted to the Santa Monica Architectural Review Board, signaling a major step forward for the high-density project, as reported by Urbanize Los Angeles. Hankey Capital is the developer behind the plans for 1518-1524 7th Street, where a contemporary glass-and-steel skyscraper
would replace an existing 10-unit rental building. Designed by Ottinger Architects, the 256-foot-tall structure is slated to house 119 condominiums across one-, two-, and three-bedroom floor plans, along with five units designated as deed-restricted affordable housing. The proposal also includes 216 parking spaces split between above- and below-grade levels. The staff report recommends approval and describes the building by saying, “The
proposed project is a 23-story tower on a podium base. The curved building form and overlapping glass façades are meant to evoke sails on a sailboat.” The project’s path to the review board has been unconventional. It was initially one of several "Builder's Remedy" applications filed in 2023, a period when Santa Monica’s housing element failed to meet state standards, allowing developers to bypass local zoning limits. Following
a legal settlement between the city and original applicant WS Communities, the site changed hands in 2024 when lenders, including Hankey Capital, took control of the portfolio. This tower represents one of several former Builder's Remedy sites that lenders are now actively pursuing as high-rise developments under the city's formal approval process.