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On Thursday, at 6pm, there is a special meeting to vote on leasing out the 2nd floor space at $18 a square foot to Restaurants-America. They also want the first year free and will give the City 3% over annual sales over $4 million.
They describe themselves as follows:
Restaurants-America is the owner and operator of over a dozen restaurants nationwide. Our concepts share the same contemporary and urban feel, warm ambience, and creative cuisine, each with their own unique offerings.
Our award-winning team is made up of leaders, event planners, managers, chefs, and servers dedicated to offering guests the best dining experience possible. All of our restaurants put an emphasis on impeccable service and delicious food in a comfortable environment ensuring that all our guests feel welcome and leave full!
Our restaurants range from the casual kitchen and taps to contemporary steak houses and wine bars---whether it's cocktails after work or an elegant occasion, we have a destination for everyone. In addition, private event space and catering is available at each location.
Is there an elevator to this 2nd floor area? Isnt that part of the building code?
ReplyDeleteThere will be an elevator to the second floor.
ReplyDeleteWill the elevator door opening be big enough for one of your large hats?
ReplyDeleteVery flowery words without any substance. Why the WAY cheaper rent? Who are they Lynn?
ReplyDeleteWell, they are a corporation that want rock bottom rental rates because they expect a lousy view on the top floor--no ocean, on Intracoastal, no lights, no nada. Can't wait to hear the pitch that a 2nd floor is a tough spot to make it in the industry. Snikin will most likely agree.
ReplyDeleteThey wont have an ocean view? Oh my, thats not good. Not like the old upstairs with windows facing the ocean. That is a big problem. Who the heck designed this place without an oceanview. Crazy or I`ve read this wrong.
ReplyDeleteThat was my bad attempt at sarcasm. They will have a wonderful and spectacular view up there.
ReplyDeleteIf they are a large corporation with heaps of tax breaks why such a picayune $18 and why with a gorgeous new building and ocean view would the commission even entertain the offer?
ReplyDeleteWith this rental, will the Casino cash flow be able to pay the debt service for a $6,000,000 Loan?
ReplyDeleteAfter the City allowed the market to dictate the rents, the amounts will be much more than the city anticipated to cover the debt.
ReplyDeleteOne year free rent? Does anyone realize that that takes their offer to the range that the islander was offering? So lets get this straight, if they fail after two years for whatever reason, they would have paid $9/sq foot! I anyone else appauled? What is the theme of this restaurant? We need more information!
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