It's too bad, because it was a nice place! Maybe the demand for the restaurant was too low in part because so many condos in the new surrounding buildings are empty. A lot of retail spaces remain unleased after months or even years, and businesses that do take a chance often don't survive because of lacklustre demand.

Also, the average people living in the area or working in nearby offices don't have a lot of extra money for lunches/dinners out at $20-30 per plate meals. Their mortgage and other living expenses have turned out higher than they anticipated, so the average condo owner (or renter) for recently built condos is cutting corners and using the crock pot.

It has also become more expensive to run restaurants because of wage inflation (at the low end), food costs, and utilities.

What restaurants like this need are a lot of trust fund kids who go out 3-5 nights a week and buy lots of $10-15 drinks.
 
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I work in the area. Never went. The Ricarda's on the corner is usually empty too. I just think there are too many options in the area. I never heard people at work y’all about going here.
 
ponyboy said:
It's too bad, because it was a nice place! Maybe the demand for the restaurant was too low in part because so many condos in the new surrounding buildings are empty. A lot of retail spaces remain unleased after months or even years, and businesses that do take a chance often don't survive because of lacklustre demand.

Also, the average people living in the area or working in nearby offices don't have a lot of extra money for lunches/dinners out at $20-30 per plate meals. Their mortgage and other living expenses have turned out higher than they anticipated, so the average condo owner (or renter) for recently built condos is cutting corners and using the crock pot.

It has also become more expensive to run restaurants because of wage inflation (at the low end), food costs, and utilities.

What restaurants like this need are a lot of trust fund kids who go out 3-5 nights a week and buy lots of $10-15 drinks.
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plus rents being demanded in this area - every landlord thinks they can get $75/sf. They can't. There is only so many of these $15 drinks and $25-$30 plate places that can survive.

Give it a few years, rents will stabilize as will landlord expectations.
 
ponyboy said:
It's too bad, because it was a nice place! Maybe the demand for the restaurant was too low in part because so many condos in the new surrounding buildings are empty. A lot of retail spaces remain unleased after months or even years, and businesses that do take a chance often don't survive because of lacklustre demand.

Also, the average people living in the area or working in nearby offices don't have a lot of extra money for lunches/dinners out at $20-30 per plate meals. Their mortgage and other living expenses have turned out higher than they anticipated, so the average condo owner (or renter) for recently built condos is cutting corners and using the crock pot.

It has also become more expensive to run restaurants because of wage inflation (at the low end), food costs, and utilities.

What restaurants like this need are a lot of trust fund kids who go out 3-5 nights a week and buy lots of $10-15 drinks.
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How did you come to this conclusion?
 
As far as unoccupied units, it is a factor, but certainly not the only factor here. For this neighbourhood, it is among the highest rate in the city --

https://betterdwelling.com/city/tor...upied-homes-heres-where-they-are-interactive/

The data form that study are imperfect, and the direction of the bias suggests that unoccupied/underoccupied shadow inventory is likely higher because of what counts as unoccupied.

Other people are studying time series of lighting patterns in buildings as well as utility use to estimate how how many occupants. It's an interesting observational and statistical problem, and it's unfortunate that better information is not available.
 
New bar / pub in the old Anne Boleyn space:

5EDE0759-B03B-410B-B41F-D6281CDAD822.jpeg
 
Contra said:
Anne Boleyn to Queen Anne. Conveniently confusing!
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So, the Natalie Dormer has become the Olivia Colman. I'll halfta check it out. Could be a new favourite.

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Wow that is baffling. Is this still the Parts & Labour group or did ownership change? Any difference in the drinks / menu?
 
Interesting. I hope this stays. For some reason it strikes me as an tough location. But then again that shouldn't make much sense, since BarHop just around the corner does very well.
 
Miscreant said:
Interesting. I hope this stays. For some reason it strikes me as an tough location. But then again that shouldn't make much sense, since BarHop just around the corner does very well.
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I agree it feels like a tough location to me too. The podium space around it feels very cavernous and imposing to me and the streetscape itself is windswept and barren. It doesn't feel comfortable and the home-y historicist pub feel is a weird fit for it IMO.
 
It's funny how Adelaide has become such a retail street over the last 5 years while Richmond continues to struggle as more of a back alley.
 
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