Plans were unveiled to expand the iconic take-out restaurant known by many in the Grove Park neighborhood as Bankhead Seafood by Blueprint Development (Partnering Developer) and 1651 Donald Lee Hollowell, LLC (Ownership Entity). To complete the anticipated $3 million improvements, a request for financial assistance is requested with Invest Atlanta.
A $537,376 Perry Bolton TAD Grant for the project located at 1651 Donald Lee Hollowell Parkway NW will be reviewed by the TAD Project and Policy Review Committee on December 9, 2021. The requested TAD grant will assist in closing the financial gap on the project along with $1.8 million in construction debt and $630,000 in owner equity.
According to information obtained through Invest Atlanta, the site is home to an iconic restaurant, Bankhead Seafood. The restaurant was purchased from the previous owner in January 2020 for redevelopment and expansion purposes. The new 4,120 sq.ft. the restaurant will deliver a dine-in facility with a seating capacity of 130. The project will also address structural damage and code requirements, incorporate a rooftop patio, outdoor seating, and expanded parking capacity.
Invest Atlanta documents have listed the benefits of approving the TAD grant includes the improvement to community amenities, additional access to neighborhood jobs, and the preservation of cultural landmarks.
Documents obtained through Invest Atlanta also suggest that the partners and investors associated with this property are also related to the Intrada Westside project, which is a 143-unit mixed-use development also located in Grove Park and awarded $16.5 million in tax-exempt bonds, $1.5 million in housing opportunities bonds and $1 million in TAD financing in 2019.
The construction and expansion plans for Bankhead Seafood are anticipated to take six months to complete.
One Response
TAD funds should never be used on a restaurant in my opinion. Secondly, this will be a tourist spot, not the Bankhead Seafood I grew up on. Same name, completely different business. A rooftop and a liquor license tells it all.