Parking Proposals Grub Down

Proposals are due Sept. 7 from two companies, Performa Entertainment Real Estate Inc. of Memphis and Signet Development Ltd. of Jacksonville, Fla., to the city of Fayetteville to build a mixed-use parking deck complex behind the Walton Arts Center at the current location of Grub’s Bar & Grille.

That won’t mean Grub’s is going away.

Broyles said he is excited about recruiting Grub’s to move into the Metro Building across West Street. Broyles said the building has a two-level space with 5,000-SF that would be bigger than the current Grub’s while preserving its two-level layout.

The location Broyles has in mind was formerly home to Lewis & Clark Outfitters and he said his company would build out the location to suit Grub’s, most notably by adding a kitchen to cook those mouth-watering burgers.

By December, pending City Council approval of the contract, Fayetteville hopes to have a partner in the parking development, which is to have a minimum of 500 spaces in the deck and could have around 200,000 SF of mixed commercial and residential space.

The entire project – which includes the small parking lot across Spring Street – could cost $14 million to $20 million depending on the proposals. The deck alone, which will be constructed first and take 12 to 18 months to complete, will likely cost around $7 million.

Fayetteville would fund a portion of the project through bonds tied to future revenue from parking fees but the selection of a partner will also largely depend on how much of the total cost the developer will bear.