3CDC Signs Lease for First Street-Level Commercial Space in The Foundry
Posted on June 2, 2021 by sujvary
Restauranteur Terry Raley Opening Second Cincinnati Concept at Critical Downtown Corner
CINCINNATI (June 2, 2021) – The most sought-after corner in Downtown Cincinnati officially has a new tenant. Cincinnati Center City Development Corp. (3CDC) is collaborating with Nashville-based restauranteur Terry Raley to bring his new French-leaning brasserie concept, Royce, to the corner of Fifth and Vine streets in the heart of downtown. This will be the second concept Raley’s Amaranth Hospitality Group will partner with 3CDC to open in Cincinnati this year, following the recent announcement of his new oyster bar concept, Pearlstar, which will be located in the 1200 block of Vine Street in Over-the-Rhine.
“We are delighted to bring Royce to Cincinnati” Terry Raley, President and Chief Operating Officer of Amaranth Hospitality Group, said. “When we began looking for expansion cities, there just wasn’t another place that galvanized that feeling of belonging for us. Throughout early discussions with 3CDC, it was evident that Royce was synonymous with the vision not only for The Foundry, but specifically for this special corner in the heart of the city. Royce will bring the energy and thoughtfulness that it certainly deserves.”
Located at 501 Vine St. in a 4,700-square-foot space on the site formerly occupied by Tiffany’s, Royce will bring a much-anticipated French-leaning dining concept to Cincinnati’s most prominent corner, nestled right alongside Fountain Square, which is home to over 500 concerts and events that are programmed by 3CDC annually. This is the first lease 3CDC has signed for one of the street-level commercial spaces in the Foundry building, formerly known as Fountain Place, which will be a mixed-use development featuring 150,000 square feet of Class A office space, 35,000 square feet of street-level retail space and a 164-space underground garage.
Royce, described by Raley as a “thoughtfully modern brasserie influenced by traditional European Markets, NYC Brasseries, and French Delicatessens,” will feature a raw bar on the Vine Street side, which will also be home to a bar and lounge area perfectly visible to Fountain Square revelers, while the Fifth Street side will feature an open kitchen and dining room.
Patrons can expect charcuterie to be featured heavily – pâtés, terrines, rillettes and saucisses of France being central to the menu, as well as a broad and finessed take on French classics, with a la carte meats and fish prepared on a wood-fired hearth that anchors the kitchen. Royce will also feature over 80 seats of Parisian-style seating that will wrap the corner of Fifth and Vine. Construction is expected to begin in July 2021, with Royce slated to open in late 2021.
Raley and 3CDC were connected by Terry Ohnmeis, a Director with Cushman & Wakefield who specializes in retail services. Ohnmeis met Raley while the restauranteur was visiting Cincinnati and began showing him spaces throughout the urban core. During that process, he introduced Raley to the 3CDC team and the fit was perfect for both Raley and 3CDC from the start. Ohnmeis brokered the leases for both Royce and Pearlstar.
“Royce’s street-level presence will create a seamless connection to the energy at Fountain Square, making it the perfect anchor tenant for the most well-known corner in the City” Katie Westbrook, 3CDC’s Development Manager in charge of the project, said. “We’ve taken our time filling the commercial spaces at The Foundry and feel like that patience has paid off with an ideal operator in Terry Raley.”
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