“Our goal has always been to maintain the current tenants at Woodward Avenue.”
Yesterday, July 12, Stone Soup Kitchen announced that the eatery had been evicted from its longtime home in Grant Park by Paces Properties, which purchased the building housing the restaurant this year.
Paces issued a statement to What Now Atlanta Wednesday explaining their part of the story.
According to the developer, much effort went into attempting to keep Stone Soup Kitchen at the property.
Paces noted that the restaurant was not under a current lease when the company purchased the Woodward Avenue building in January 2016.
Subsequentially, rent was “logically” escalated to fund accommodate exterior improvements and system upgrades to the building.
Overall, Paces Properties expressed that they had every intention of keeping Stone Soup Kitchen at the property.
“Our goal has always been to maintain the current tenants at Woodward Avenue, not level the building, add a Starbucks or go vertical and build apartments above. As of today two of the three will continue to stay at that location.”
The full statement reads as follows:
When Paces acquired the Woodward Avenue building in January 2016, Stone Soup Kitchen was not under a current lease. In order to accommodate exterior improvements and system upgrades to the building, the rent structure for tenants logically needed to be escalated for financial feasibility. For months, Paces made numerous attempts to agree to a long term lease with Stone Soup Kitchen, negotiations broke down especially when Stone Soup Kitchen revealed their intention to sell their business by year end. Paces was disappointed that an agreement could not be reached to continue to maintain the existing Stone Soup Kitchen operation, as the tenancy of Stone Soup Kitchen was one of the deciding factors for the acquisition. Our goal has always been to maintain the current tenants at Woodward Avenue, not level the building, add a Starbucks or go vertical and build apartments above. As of today two of the three will continue to stay at that location.
Paces Properties is currently in the process of investing over $200 million in multiple properties along the Memorial Drive corridor, from Oakland Cemetery to Atlanta Dairies. As part of the efforts to improve the currently vacant and dilapidated commercial spaces, Paces is investing over $20 million in the redevelopment of Larkin on Memorial, 584-588 Woodward, The Jane and Oakland Park retail.
Where would you like to see the restaurant relocate? Tell us below…
2 Responses
I’d love to see Stone Soup Kitchen come to EAV!
Paces is full of it! Now our neighborhood will not only lose a beloved restaurant, but also will have to deal with yet another vacant property. Your neighbors don’t like you Paces. Stop being a bully. Stone Soup is one of the best things about Grant Park. They will be missed.