Mahogany's at the Banks (Cincinnati, Hamilton: how much, wedding, theater)
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I understand (though I disagree) why the city wants to give a grant. If the city were to simply let the market run its course, then the tenant would try to put up a crappy boring building and try to make money off of the location alone without contributing anything aesthetically to the area. The city would rather give some support up front so they can have some control over the design process to make everything fit together.
There are a few problems. First of all, the city is very bad at market research and architectural styling. That is what happens when you pick architects and restaurants based on patronage rather than merit. Also, the city is setting up a bad business climate. Why would any investor want to risk their own capital when their competition is being subsidized? Successful business models are stifled when success comes from connections to city hall rather than innovation and good ideas.
I am only partly joking when I suggest that the whole Banks project is a big conspiracy to lower Northern Kentucky property values by putting an eyesore in their river view.
You've got non-business people in the Mayor's office and City Council making highly speculative, risky, and complex business decision on a sole-proprietor owned restaurant? Very low chance of success.
Make that, from all accounts, a sole-proprietor owned MEDIOCRE restaurant. I'm going with zero chance of success.
Make that, from all accounts, a sole-proprietor owned MEDIOCRE restaurant. I'm going with zero chance of success.
I'm curious, have you eaten there?
And saying something at The Banks has "zero chance of success" is hilarious, since Holy Grail and Toby Keith's are so crowded with lines out the door that people are having to go elsewhere. Meanwhile, Moerlein Lager House is opening this week with enough private party reservations to last until August. And all this during the dead-of-winter months when the Reds/Bengals aren't even playing and plopping tens of thousands of potential customers right at their doorsteps.
Some of the replies on Mahogany's and soul food in Cincy have been somewhat absolute in their failure. I choose the wait and see approach and I will go there and eat to see for myself and help support them.
Some of the replies on Mahogany's and soul food in Cincy have been somewhat absolute in their failure. I choose the wait and see approach and I will go there and eat to see for myself and help support them.
Some of the replies on Mahogany's and soul food in Cincy have been somewhat absolute in their failure. I choose the wait and see approach and I will go there and eat to see for myself and help support them.
I don't really share the opinion that a soul food restaurant at the Banks per se is a bad idea. I think I probably mentioned that in the initial posting. As Goyguy said in his comments, soul food is really Southern food, and we're close enough to the South to make the concept work. I'm dubious, though, that these particular owners are going to make a go of it. It seems way more likely to me that two years from now the grant money will be gone, the loan money will be defaulted on, and there will be a vacant space littering the Banks. Will another business come in to fill it? Probably, but at yet another $1 million down the drain with little to show for it.
This quote from the owner is pretty telling. Either she can't keep track of her TAX BILLS, for heaven's sake, or she's dissembling. How's she going to run a million dollar project?
"Elizabeth Rogers said she learned of the delinquent bill three weeks ago. The three Hamilton properties on which the back taxes were owed are buildings that Rogers and her husband purchased and renovated in recent years. 'I was very unaware of the bill,..'she said. .”
And then there's this from the city:
City officials said they knew the restaurant owners owed taxes, but recommended the deal anyway.
“It’s still the right thing to do,” said Meg Olberding, spokeswoman for city manager Milton Dohoney. “You have to take risks to change the status quo.”
Translation: We recognize this is a LeShawn Pettus-Brown style handout, but we don't care.
Also an interesting concept the City feels it is necessary to give them a sizable grant to locate at what you describe as a fabulously successful location. You would think outfits would scrambling and knocking on the door to move in. Something smells just a little fishy to me.
Make that, from all accounts, a sole-proprietor owned MEDIOCRE restaurant. I'm going with zero chance of success.
Sarah,
Did you ever think the purpose of putting an "ethnic" restaurant in that location was the connection to the nearby National Underground Railroad Freedom Center? (which I understand is also subsidized by the City) Tie-ins of that kind are common in large developments where it is hoped the combination will create synergy for both enterprises. The problem I anticipate has to do with the cost of having a restaurant in that high value location. Soul Food is almost by definition lower cost. As others have stated, the best of this type of cuisine comes from the unique qualities of home cooking. If the new restaurant is pricey because of its high overhead, then the targeted patron demographic may favor lower-cost alternatives at other locations.
I personally think its as much a gamble as the new casino but if the owners step up to assure consistent high food quality with outstanding customer service, then it has a chance... at least for a while. Even the best restaurants rarely maintain a consistent high quality; once ownership changes or a talented creative chef departs, things can go downhill fast. Food is food, the make or break aspect of restaurants is the dining experience itself.
I'm dubious, though, that these particular owners are going to make a go of it. It seems way more likely to me that two years from now the grant money will be gone, the loan money will be defaulted on, and there will be a vacant space littering the Banks. Will another business come in to fill it? Probably, but at yet another $1 million down the drain with little to show for it.
This quote from the owner is pretty telling. Either she can't keep track of her TAX BILLS, for heaven's sake, or she's dissembling. How's she going to run a million dollar project?but we don't care.
I share these concerns as well. I am not in favor of the grant. If the city does a loan with some type of collateral (the Hamilton restaurant for example) then I would be willing to go with the "take the risk" approach.
Quote:
Originally Posted by Vintrest
Sarah,
Did you ever think the purpose of putting an "ethnic" restaurant in that location was the connection to the nearby National Underground Railroad Freedom Center?
I had not considered that and think you make an excellent point.
Sarah,
Did you ever think the purpose of putting an "ethnic" restaurant in that location was the connection to the nearby National Underground Railroad Freedom Center? (which I understand is also subsidized by the City) Tie-ins of that kind are common in large developments where it is hoped the combination will create synergy for both enterprises. The problem I anticipate has to do with the cost of having a restaurant in that high value location. Soul Food is almost by definition lower cost. As others have stated, the best of this type of cuisine comes from the unique qualities of home cooking. If the new restaurant is pricey because of its high overhead, then the targeted patron demographic may favor lower-cost alternatives at other locations.
I personally think its as much a gamble as the new casino but if the owners step up to assure consistent high food quality with outstanding customer service, then it has a chance... at least for a while. Even the best restaurants rarely maintain a consistent high quality; once ownership changes or a talented creative chef departs, things can go downhill fast. Food is food, the make or break aspect of restaurants is the dining experience itself.
I did immediately think of the Freedom Center. I believe statistically, though, most of the Freedom Center's attendance is from groups of school kids. And the existing Mahogany's location in low-cost Hamilton has a high price point for soul food as it is. So, yeah, admittedly without knowing things like just how profitable that business is, I see a TON of risk here. Almost everything about this screams failure. I wouldn't care, except it's a lot of tax money involved by any reckoning.
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