Restaurant rumblings: Brazilian

September 19, 2007
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Brazilian SteakhousesAt least two more Brazilian steakhouse concepts are looking to open new restaurants in Indianapolis, brokers say. The first to debut locally, Brazilian Grill, opened a few months ago at 86th Street and Township Line Road. Another Brazilian steakhouse restaurant apparently has a deal for the first floor of the Broadbent Building downtown at Washington and Pennsylvania streets. Broadbent had hoped for a bank and a small restaurant, but appears poised to go with the large restaurant instead. These restaurants, where meat is carried on skewers and sliced off for diners, are catching on in smaller markets. Anyone dined at one of these places? Thoughts?

Other deals in the works downtown: Bar Louie, the Chicago-based chain that opened in Clay Terrace last week, has been talking with Simon about taking space next door to Weber Grill. And Scotty's is discussing a possible deal for space in Jefferson Plaza. Brokers say neither deal is done.

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  • If this means no drive-through bank lane at the Broadbent Building, I'll be ecstatic!!

    I talked to a manager at the northside Scotty's Brewhouse a couple weeks ago and they said their goal was to have a downtown location open by the time The Luke opens next August. Jefferson Plaza would be a great location, with the outdoor seating option.
  • love it all. glad to see the broadbent building might not have a drive through bank in it! love scotty's and think jefferson plaza will be a perfect spot for it if it happens. outdoor seating, just up from the fieldhouse - perfect. bring on bar louie as well (even if it and the brazilian joints are chains)....
  • I hope the drive-through is nixed ASAP. That building will look uber-tacky enough as it is.
  • Its a pathetic state of affairs in a city when a drive thru gets approved in downtown in 2007!
  • Good to see more of those brazilian/argentinian steakhouses coming to the market. Like tapas, it's a national restaraunt trend that we sorely lacked until recently. I'd like to see more tapas places while we're at it. Small dish places are just a good fit for the typical downtown nightlife type looking to grab a drink and bite before heading to a lounge or club.
  • Bar Louie took over the Red Star Tavern spot at Clay Terrace, right? I think it will be a good addition to downtown, even though it is a chain. I've never been to one, but hear it's a decent place. Scotty's downtown is an even better idea. Great to see a local mini chain doing so well.

    As for Brazilian... I'm with Steve. This is a popular style around the country that has not really made it's way to Indy. Just check out any of those fablious in-flight magazines and you will see pages of ads with locations all around the country.
  • I have eaten at the Brazilian Grill.

    It reminded me a lot of the churrascos in Sao Paulo and Rio. Not quite as authentic and upscale as the restaurants I dined at in Brasil however. The salad bar was not as extensive, but it still had the essentials.

    Never the less it is a unique restaurant concept and I would love to see it expanded and refined in Indianapolis.
  • What building on Washington and Penn is the Broadbent building?
  • It's the former Zipper Building.
  • Despite the comments and the perception, there really aren't many
    Brazilian steakhouses in the US yet - so one coming to Indy now - and another in the near future doesn't mean things are behind the times. I've not been to the new Brazilian Grill - but have been to several other renditions of this in Miami, Chicago, Cleveland, etc... :The two big national chains (used lightly - as they each only have perhaps 8-10 locations) are Fogo de Chao (said more like foe go day shown) and Texas de Brazil... are both exceptional - but come at a price - generally $40-$50 per person fixed price for the steak/salad/food bar (with drinks/desserts extra). Great places for a group or business dinner... Folks LOVE them.
  • While it hasn't been formally announced, Fogo De Chao is the restaurant taking the space in the Broadbent building.
  • As a neighbor of the Broadbent building - VERY excited about the remodelling going on and now even more excited at the prospect of a Brazilian restaurant there!!
  • I'm for anything that means more meats on sticks! Just ate at Fogo de Chao in D.C. and loved it. This type of restaurant will quickly become one of Indy's favorites.
  • It's going to be exiciting another braziliang restaurant chain in town, I heard from one of the manager at the Grill that Brazilian Grill got funding and will be opening a new location, not sure if is downtown or Greenwood, he woldn't say.

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  1. Apologies for the wall of text. I promise I had this nicely formatted in paragraphs in Notepad before pasting here.

  2. I believe that is incorrect Sir, the people's tax-dollars are NOT paying for the companies investment. Without the tax-break the company would be paying an ADDITIONAL $11.1 million in taxes ON TOP of their $22.5 Million investment (Building + IT), for a total of $33.6M or a 50% tax rate. Also, the article does not specify what the total taxes were BEFORE the break. Usually such a corporate tax-break is a 'discount' not a 100% wavier of tax obligations. For sake of example lets say the original taxes added up to $30M over 10 years. $12.5M, New Building $10.0M, IT infrastructure $30.0M, Total Taxes (Example Number) == $52.5M ININ's Cost - $1.8M /10 years, Tax Break (Building) - $0.75M /10 years, Tax Break (IT Infrastructure) - $8.6M /2 years, Tax Breaks (against Hiring Commitment: 430 new jobs /2 years) == 11.5M Possible tax breaks. ININ TOTAL COST: $41M Even if you assume a 100% break, change the '30.0M' to '11.5M' and you can see the Company will be paying a minimum of $22.5, out-of-pocket for their capital-investment - NOT the tax-payers. Also note, much of this money is being spent locally in Indiana and it is creating 430 jobs in your city. I admit I'm a little unclear which tax-breaks are allocated to exactly which expenses. Clearly this is all oversimplified but I think we have both made our points! :) Sorry for the long post.

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