Everything you wanted to know about the Urban Core, Uptown and Downtown Dallas, Texas & Dallas Ft. Worth Area Real Estate - Its growth, prosperity, setbacks and unprecedented revitalization is told here...Randall Turner of Harvard Companies, Inc 214-373-0007, 3500 Oak Lawn Avenue, Suite 325, Dallas, Texas 75219
Monday, June 29, 2015
Dallas restaurateur expects downtown Coal Vines, Biergarten to bring in millions
After looking at consumer traffic in downtown Dallas, restaurateur Joseph Palladino expects his two new area restaurants to bring in millions.
Last year, construction kicked off on 16,000 square feet of restaurant space in front of the Omni Dallas Hotel and within walking distance of the convention center. The project, which aims to bring more eating options to the convention area, is being paid for by funds left over from the construction of the Omni, which opened in 2011.
Building efforts for a Coal Vines pizza restaurant and the Biergarten on Lamar, both concepts by Palladino, began last week. The eateries are expected to be open in August. While a tentative date has been set for Aug. 10, Palladino said he is aiming for doors to open during the first or second week of the month.
Palladino predicts Coal Vines, which has enjoyed success in Uptown Dallas for more than eight years, to bring in at least $2.5 million in annual sales. The restaurant’s downtown location will look like the original, but will also include a communal, self-serve area that will be open in the afternoon. Customers can expect waitress service during evening hours.
His new concept, the Biergarten, is expected to bring in between $3 million and $5 million in sales. The German-influenced restaurant will serve menu items like bratwursts and schnitzel alongside German beers. Palladino is flying to Munich next week to hand select which brews will be served.
“I wanted to do this concept and I felt this was a good location to kick it off because of the amount of corporate business here and conventions coming in,” he added. “I think it’s a good place for people who are working and want to roll up their sleeves while still doing business in a warm, friendly atmosphere.”
Downtown Dallas also is the perfect incubator to launch expansions for both concepts, he added. While the Biergarten is still a work in progress, after Coal Vines is built at the Omni and the CityLine development in Richardson, Palladino has plans to build eight to 10 new locations every year.
“Putting it on the Omni property is a big opportunity because I want to build as many restaurants as possible,” he added. “It happens to be a win-win because we have a good brand name in the city anyway, so people who do business here and live downtown already know us, but it’s also good exposure to people at the convention center.”
The two restaurants at the Omni will encompass 3,400 square feet and employ between 60 and 70 workers.
Coal Vines and the Biergarten will also share the new restaurant space with a 4,200-square-foot Herrera’s Tex Mex Restaurant and a 4,300-square-foot sushi restaurant called Little Katana at the Omni. Herrera’s and Little Katana are expected to open in October.
The hotel also hosts its own sports bar called the Owner’s Box and two other restaurants – American food concept Texas Spice and the famed Bob’s Steak & Chop House.