Wild Rumor – Corazon Space Being Divided Amoeba Style

<updated> Kurt of ChefStable dropped me a note saying that he had first thought of splitting the space yesterday (FD moves fast ;), but it has a ton of logistical problems because the concepts would share a kitchen – something I was wondering about. “No decisions have been made”

Posted under the category of “throwing it at the wall and seeing if it sticks”.

The rumor mill is churning this morning, and here is the first interesting story: The space in the Indigo building which, until this week held Corazon, is being divided yet again, to house two new restaurants. According to sources familiar with the matter, half the space will be used for Racion, a tapas style, innovative Spanish restaurant that Tabla expat Anthony Cafiero has been working on. The other half of the space is rumored to be a branch of  Lardo, the sandwich shop and beer garden on SE Hawthorne.

Plans call for a quick transmogrification, with the new restaurant/restaurants to open within a few months. Something tells me the ChefStable group has a long-term lease on the space.

Now then. I can see Racion going into the space, but how Lardo could manage to keep afloat on such expensive real estate I don’t know. Huffman said that Corazon could never make it selling $3 tacos. Sandwiches aren’t much different, and unless their portion is really small, I find that part of the rumor doubtful.

Your thoughts are welcome

  1. Ruth Brown says

    I live upstairs (hello stalkers!) so I have strong opinions on this:

    Hundreds of people live in that building. The assumption by other people seems to be that everyone in the building is wealthy and/or has expensive tastes. It just isn’t true. Most of the apartments are studio or one-bedrooms. (based on my observations) most of the residents are single or DINK couples (there are some families, though; more than you might expect), mostly professionals, many who work long hours. A large proportion seem to get take-out most days; it’s pretty standard to be in an elevator full of people holding Whole Foods boxes, or at lunch/weekends, food cart boxes. Both Pinot and Corazon offered fairly generous discounts to residents, but neither seemed to secure their business. Corazon was certainly cheaper and more casual than Pinot, but even so, the last thing I wanted to do when I came home from work at night was sit in a loud, uncomfortable bar, waiting for cheap tacos. I still found myself making the 15-minute detour down to Santeria for the same thing.

    I don’t know much about the real estate prices or margins on food, so maybe that is the sticking point regardless, but I do think something more casual and take-out friendly like Lardo would work better in the space. In winter, it would pull a lot of the office workers who typically go to the carts, plus the pre and post Timbers crowd, and I suspect a good percentage of the building (and nearby residents) would buy dinner there multiple times a week. The prices aren’t that different from WF sandwiches, and those are fairly terrible. They may face some serious competition from this new sandwich place Clyde is doing in the Ace building, though, and my understanding is that the place across the road (Italian deli or something?) will also do sandwiches to go. Still, I think it would stand a better chance than $3 bar tacos ever did.

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