Joined: 15 May 2004
Location: Oak Ridge, Tennessee
|Posted: Tue May 31, 2005 4:26 pm Post subject: Good news on the Melton Hill lakefront
|The Oak Ridger Online reports, as breaking news,
|R&R Properties has announced the addition of its newest property located at 100 Melton Lake Peninsula (formerly known as the Rusty Pelican and other restaurants). |
The article quotes extensively from a press release, which quotes Rick Chinn Jr., owner of R&R Properties. Chinn says his company plans an upscale restaurant and an associated "waterfront redevelopment" for "a high end yet casual clientele that is already in place with the world-class rowing venue, quality housing developments and picturesque walking trails." Plans include a venue for large meetings and events.
It's good to see something productive planned for the peninsula with the empty restaurant building. It's a great location for the types of uses Chinn describes in the press release.
Past restaurants at that site were disappointing. In my opinion, they did not make the best use of the great location (for example, a lakefront restaurant should not place a blank wall between customers and the water).
R&R has a great track record in converting various problem buildings into top-flight commercial space. I hope the company can work similar magic in this new venture.
Unfortunately, I expect that R&R will seek a public subsidy in the form of a tax abatement on their improvements. Similar projects are getting tax breaks from the city, and it stands to reason that R&R will expect the same treatment. I wish it were not so...