I've heard recently from a source that Starwood Capital, which purchased Belmar late last year, has decided to move more slowly with development plans, and that there are concerns about the viability of the Shops at Belmar and the planned office building at the corner of Teller St. and Virginia Ave.
The issue with the Shops at Belmar, as I understand it, has to do with the cost of bringing in city water and sewer lines. Construction costs and profitability are apparently also the hold up on the proposed office building at the corner of Teller St and Virginia Ave.
That's all I have for now, but I certainly hope Starwood decides to invest the money and moves forward soon with the build out of Belmar.
Interesting how the Qdoba departure plays into this - will Starwood try to get another corporate office tenant in there or a retailer of some kind. And the space left of the entrance doors could probably support a small eatery of some kind...
ReplyDeleteA great question, Voland. I'd always heard the location was problematic for food service owing to the issues of smells and people living above, but the T-Street people spent the money to mitigate odors and have made it work. I think the plaza area is better for restaurants than retail, but I suppose it all comes down to costs and the ability to make a profit. I haven't heard anything, though. I'll have to ask around...
ReplyDeleteLooks like we are getting a new restaurant in the space where Jamba Juice used to be. Same people as those behind Wooden Table in Centennial (Orchard and University), which suggests an Italian direction - small, white-table cloth, chef-driven (one of the partners was a chef at Osteria Marco). The name may be Brodo, which suggests a possible "broth" concept - like the sipping broth place of the same name in NYC. Know anything about it?
DeleteGood find... I knew Belmar's management was looking for a chef-driven restaurant to take over the Jamba Juice and the Oven locations, but I hadn't heard they'd found anyone yet. It sounds promising.
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