Rooftop bar, office complex planned for Downtown Salisbury!
Posted on - January 29, 2018
January 29, 2018- A new development planned for Salisbury’s waterfront will include a new restaurant and banquet facility with a fun feature — a rooftop eating area and bar.
“That’s something we don’t have in Salisbury,” said Wesley Cox with SVN-Miller Commercial Real Estate. “I’m personally excited about it.”
The 10,000-square-foot restaurant at 500 Riverside Drive will serve as an anchor for the development that will include a mix of retail, restaurant and office spaces. Cox, who recently began marketing the property, said he has heard from a few potential tenants interested in the upper level office spaces that will all have views of the Wicomico River.
“It’s going to be a great project,” he said.
The owners are hoping to get a mix of retail and restaurants on the first level. Bakeries, delis, coffee shops and pizzerias would be ideal, Cox said.
Most serious interest probably won’t happen until ground is broken in late spring or early summer, he said.
“That’s what generates a buzz,” Cox said.
A site plan for the complex is awaiting approval from the city, said architect Keith Fisher. After that, he will apply for construction permits.
“It should get moving here pretty soon,” Fisher said.
Cactus Taverna owners Imad Abu-Ahmadeh and Ike Esoud paid $650,000 last year for the 3-acre property occupying a prominent spot along the Wicomico River waterfront.
Cox said the business partners are planning a new concept for their restaurant at 500 Riverside, including a banquet space.
“It’s going to be totally different,” he said.
Abu-Ahmadeh and Esoud bought the property from Devreco, a local real estate developer responsible for several downtown redevelopment projects.
Devreco bought the property at the corner of Riverside Drive and West Carroll Street for $500,000 in 2013, then sold it to the Cactus Taverna owners last year, according to Maryland property records.
The property was once approved for two 45-unit condominium buildings, but the project fizzled as the housing market crumbled at the beginning of the recession. The land has been vacant ever since.
Fisher, the architect for another development directly across the river at the Port of Salisbury Marina, said that project should get underway this summer, too. It is currently awaiting final site plan approval from the city as well as permits from the state for waterfront development.
In 2016, the City Council approved a plan by Salisbury Development Group to develop two waterfront parcels at the marina with a mix of commercial and residential units.
The developer was the lone bidder for the project on the city-owned lots, paying $1 to purchase one of the parcels and $1 per year to the lease the second over a 50-year term.
The marina will be the first project in the Salisbury area for David Perlmutter, a principal with the Salisbury Development Group, but he has development experience in Prince Georges County and in Seaford, where he is building the Residences at River Place along the Nanticoke River.
In the Salisbury deal, the developer will be required to build residential and commercial units on the purchased lot, which also will add 155 parking spaces to the area.
The leased land, which is close to the River’s Edge apartment complex, will be the site of a new boathouse for public use that the contractor has agreed to build.
While the city will continue to own the land at the boathouse and marina, Salisbury Development Group also will take over day-to-day operations of the marina, including maintenance. The city will still be responsible for capital expenses.
The plan for the marina is the latest effort to redevelop key city-owned properties including three downtown parking lots.
Check out the story from Delmarvanow: http://www.delmarvanow.com/story/news/local/maryland/2018/01/29/rooftop-bar-office-complex-planned-downtown-salisbury/1061493001/