The waterfront restaurant by the airport is called Beachside Cafe. You could walk it in 15 minutes. Here is a link to a local website/forum with reviews about the restaurant and the address, hours, etc.
http://www.santabarbara.com/dining/r...restaurant=597
Have a great time in Santa Barbara!
BTW, the airport construction project is in early days so there is no change to square footage for passenger facilities.