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mzweig

Sassafrass/Gonzales Restaurant (formerly Lin's Chinese Restaurant) redevelopment...

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A little bird told me that Mitchell Massey is close to owning the block including these two empty restaurants. I dunno what kind of project he has in mind to replace these two dogs but ANYTHING will be a huge improvement. Plus, he has good taste and doesn't do anything bad!

If anyone has any insight here, let us know.

M

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A little bird told me that Mitchell Massey is close to owning the block including these two empty restaurants. I dunno what kind of project he has in mind to replace these two dogs but ANYTHING will be a huge improvement. Plus, he has good taste and doesn't do anything bad!

If anyone has any insight here, let us know.

M

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Cool, we appreciate whatever you're able to discuss Colby. It's certainly great to hear this little section of College having some action. I wonder if people are gearing up for the Renaissance Tower or if this activity is something totally unrelated.

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Cool, we appreciate whatever you're able to discuss Colby. It's certainly great to hear this little section of College having some action. I wonder if people are gearing up for the Renaissance Tower or if this activity is something totally unrelated.

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It is completely unrelated as far as I can tell. I don't even know the details of what may or maynot be worked out here. This is still in the very very early stages. I really hope that it works out, I know Mark lives in this area and I am sure he is really wanting something to change soon. Although Growth Group does own most of this area of town now, if you can believe it. They are also the ones that are doing the old EJ Ball building downtown. That could be their new office I think.

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It is completely unrelated as far as I can tell. I don't even know the details of what may or maynot be worked out here. This is still in the very very early stages. I really hope that it works out, I know Mark lives in this area and I am sure he is really wanting something to change soon. Although Growth Group does own most of this area of town now, if you can believe it. They are also the ones that are doing the old EJ Ball building downtown. That could be their new office I think.

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The more land Growth Group gets, the greater their chances of doing something really fantastic over here. I am going to pray Massey has unlimited resources to make things happen!

M

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I'll try and let you know if the deal gets done. It will be public info then anyway. Do you know how much of this area he owns? Most of the northside of Trenton and many parcels along College from north of Maple to maybe Cleburn?

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That sounds about right to me. But hey, you know a lot more about the goings-on around here than I do!

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The more land Growth Group gets, the greater their chances of doing something really fantastic over here. I am going to pray Massey has unlimited resources to make things happen!

M

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Ah, the truth has finally come out. It turns out Mr. Mitchell Massey certainly does NOT have unlimited resources! He owes myself over $10K for a real estate investment, as he owes at least a dozen other investors the same amount. And the Arkansas Business magazine reports that the IRS just took out a $625K lien against him. That ship is sinking fast! Watch out!

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I've read the articles (the tax lien was in the papers a couple weeks ago) and heard from others about Massey's recent plight. Too bad. I thought he had some vision. I guess he succumbed to "developer's disease"--a bad case of over-optimism and over-extension of one's personal and financial resources.

M

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I noticed the old Sassafras has a big "sold" sign on it. I wonder what's going in?

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it has sold to a local group and will reopen as a restaurant this fall. I have a few more details but we'll see how well this keeps as we don't come out for another two weeks.

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it has sold to a local group and will reopen as a restaurant this fall. I have a few more details but we'll see how well this keeps as we don't come out for another two weeks.

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Thanks for the info. I know that if things work out the old Mexican restaurant next door will not be a restaurant when it gets redone and opens back up. It is still going through the city process so I can't say what it will be quite yet because it may not get done. Should be another month or so before I know what might happen there. At least there is something going on with it and hopefully it won't be an eyesore for much longer.

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I knew you would love that Mark. On a side note, how did you do on Sweet Lafayette? I noticed it had sold and I hope that you came out well on the deal. This market has been such a mess for about the last year.

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Thanks for asking. I did well on it! Made a respectable profit--nothing to be ashamed of. The buyer paid cash and closed 25 days after the deal was struck. Nice folks, too. My house on Willow has 11 interested buyers. We had two sets of people who wanted to make offers on Friday but we told them no because it's not yet done. The numbers being bandied about are quite high although my costs are very high on this one. I predict it will sell faster than Lafayette because it is smaller and will be even nicer.

The market is bad but not in the Washington-Willow area. We are making offers every week and it is hard to buy. The red house at 300-something Washington sold on June 28 and went back on the market only to sell again in a couple days for about $40 or 50K more than it did two months ago. Amazing! A house on Johnson just went up--950 square feet for $180K--needs work, too, and I know people who want to buy it at that price.

I hope whatever goes in the Gonzales spot is good. I liked it as a restaurant. I just don't want another used car lot, liquor store, or thrift shop/pawn shop/check cashing joint. I am excited to have a restaurant back in the Sassafras location. I see they have already applied for their liquor license which is great.

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Glad to hear that Mark. I am amazed at all the activity in the historic district. If things work out on the old restaurant, it won't be a used carlot or anything that would bring down the neighborhood at all. At least as it looks right now, it won't...

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Could you be so kind as to tell us what you know, Colby, about what kind of restaurant is going in Sassafras' spot. Thanks!

M

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I have no clue on the Sassafras location. I will ask around if I get the oppertunity. We are just handling the Mexican restaurant space for now. Which is going through the city process. I will let everyone know one the closing happens. I legally can't say anything until then... :whistling:

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I believe Sasafrass will be a martini type bar/restaurant and the mexican restaurant will be converted to a spa/day salon

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