Aspen one step closer to 455 Rio Grande Place decision

On Monday evening, Aspen City Council heard presentations from the three finalists for the city-owned 455 Rio Grande Place restaurant space, before they decide who will be awarded the “below-market” lease. 

The four finalists originally included Bamboo Bear, 520 Grill, Jaffa, and Masala and Curry. Masala and Curry informed the council prior to Monday’s interviews, however, that they would be pulling out of the application pool. 

Mayor Rachael Richards opened Monday’s conversation by acknowledging that not everyone will be happy with the council’s final decision.

“I want to say that, no doubt, whatever this board chooses, we’re going to be criticized,” she said. “We know this because of the letters the editor, we’re getting the letters personally, we’re getting email and Facebook campaigns, everybody trying to get their favorite in there. I can understand (because) I’ve eaten at all three restaurants, and all three of you have really good food and loyal followings… we have multiple factors to consider. We’re trying to do this in a very open and transparent way.” 

Aspen’s city councilors sought to ask similar questions of the three applicants, focusing on affordability, viability, lease terms, and history in Aspen.

All three applicants — Bamboo Bear, 520 Grill, and Jaffa — claimed that they would be able to sustain operations with the lease terms that the city of Aspen presented, $5,200 per month, while offering sub-$20 menu items that cater to locals and kids. 

Bamboo Bear, first to present, pointed to their history of providing sub-$20 meals to Aspen locals from 2016 to 2021. They were the only restaurant seeking the space that didn’t currently operate in a Roaring Fork Valley location. Vincent Bagford and Xuan Ha, owners and operators of Bamboo Bear before it closed in 2021, clarified that the reason they closed in 2021 and no longer operate in town was due to cancer in Bagford’s family that moved him to Ohio, where he operated a food truck. 

Bagford said the 455 Rio Grande location leased by the city of Aspen is an opportunity for him and his wife to make their Aspen return and serve food to locals once again. 

“I understand Aspen: the rhythm, the seasons, and the workforce that it takes for the restaurant to survive and succeed long-term here in our community,” Bagford told councilors on Monday. “Bamboo Bear was built from this understanding.”

Councilors also asked questions of 520 Grill, which currently operates a location in downtown Aspen also known as Silverpeak Grill. Owner Troy Selby reiterated that without the city lease at 455 Rio Grande Place, it is likely that 520 Grill would cease to operate because of ongoing issues with its current landlord. Those issues include a 50% rent increase and an ongoing lawsuit due to impacts of construction on business, Selby said. He also told councilors that moving into the Rio Grande Place location would not be an expansion of his business but a relocation, as he would seek to stop operating at his current location. 

“My time there is up … I did say that we are in a lawsuit with the landlords on (our current) space, no rent abatement or reductions (were offered) during the construction,” Selby said.

Councilors previously expressed concern at their Jan. 26 meeting about 520 Grill’s proposed price increase in their application from their current menu. While councilors admitted they aren’t able to control the prices of the applicants, they want to see affordability prioritized. 

Selby emphasized Monday that, while some menu items may go above the $20 target that the council discussed, they would offer value options that undercut any increases. 

“We discussed having a $12 to $15 kid’s specific menu but also have a sub-$20 everyday lunch, kind of like what (Selby) is doing now, where you get a burger, fries, and a drink for $20” Josh Fanshel, who has agreed to partner with Selby on the potential 455 Rio Grande Place location, added. “You get a little more perceived value … we would love to have as many sub-$20 options as possible.” 

Councilor Bill Guth disclosed some financial ties with the condominium association that rents the current 520 Grill location, recalling during the discussion that through the Homeowner’s Association board, he is also involved in renting Selby storage space. This disclosure resulted in Guth being asked to not participate in further questions with 520 Grill and potentially withdrawal from voting on the final 455 Rio Grande Place restaurant in the coming weeks. 

Jaffa, who presented last and currently has a location in Basalt, was the only restaurant that stated they would be expanding in the Roaring Fork Valley to two locations if granted the Rio Grande Place space. Jaffa offers middle eastern cuisine, which co-owners Doina Musteata and Alexei Rotaru saw as a gap in the Roaring Fork Valley. 

Jaffa’s application pointed to their current menu as a target for pricing and food options. 

“One pita pocket will definitely (fill you up), it’s not small portions,” Musteata said. “If you want a bigger portion, we do have plates, which is a very big portion and people share that. They get extra pita, one couple can have one meal for below $20. We don’t have items that go above $20.”

Jaffa would plan to operate from 8 a.m. to 8 p.m., offering Aspen breakfast service in addition to lunch and dinner service. 

Councilors asked each applicant if they had considered and searched for free-market restaurant space in Aspen. All three expressed that they had, but only the city-owned location offered a realistic and affordable opportunity for each of their success. 

All three applicants also expressed an interest in negotiating the lease in the coming weeks. 

Richards noted that council would not be delivering a decision on Monday night, but would take time to consider the applicants’ answers and request further details on their potential restaurants, including the disclosure of confidential financial records. Risk, debt, and more need to be considered as well. 

“If you do get a request from our staff for information, please try to answer it in a timely fashion,” Richards said in closing.

Richards suggested putting the issue on the agenda for the next regular meeting, Feb. 10.