Jul. 9--A Charlottesville developer has announced plans to replace the former Maverick restaurant in the Seminole Square shopping center with a new, three-story, 24,000-square-foot building.
Great Eastern Management Co. intends to demolish the 7,188-square-foot restaurant and break ground on the new project by spring, said Steve Hopkins, vice president of the company.
The new building is expected to have a bank and restaurant on its first floor, while the upper two floors will be commercial office space. Specific tenants have not been named.
The new restaurant will be the first to occupy Maverick's space since the frontier-themed eatery closed its doors in 2006.
Situated just off U.S. 29, Hopkins said, the project's high-traffic location should help in finding tenants.
"We think it's a great location," he said.
Kathy Degraff, manager of Tiffany's Seafood at Seminole Square, said that although there may be a glut of restaurants in the area, the incoming restaurant could succeed if it offers something different.
"I'm not sure Charlottesville needs another restaurant. We have so many already," she said. "I guess it'll depend on what they're offering."
Ivo Romenesko, president of Appraisal Group Inc., said the northern quadrant of Charlottesville has a 10 percent vacancy rate for commercial office space, prompting new construction projects such as Great Eastern Management's plans for the former Maverick site.
"The sense is that we're adequately leased up, so we're going to see some new construction happening," Romenesko said.
Copyright (c) 2007, The Daily Progress, Charlottesville, Va. Distributed by McClatchy-Tribune Information Services.