Downtown shakeup: Tea Cozy closes, Sahm's moves, Urban Elements expands

February 25, 2010
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  • Tea Cozy IndianapolisTea Cozy, the cafe and store along Market Street in The Block, has stopped serving lunch and will close for good on Monday. Owner Delores Epps said traffic wasn't strong enough for the restaurant to survive in the high-profile space. She's looking for a new location, possibly in a house in Broad Ripple or Fishers.
  • Sahm's has opened a new restaurant and catering facility in OneAmerica Tower and plans to close its location on the second floor of M&I Plaza on April 10. The new location, dubbed Sahm's at The Tower, is much larger and on the first floor. Sahm's will be the exclusive caterer for events in the 38-story tower.
  • Urban Element, the relaxed cafe and lounge along Pennsylvania Street near the Central Library, is planning a second location in the former home of Elements at Massachusetts Avenue and Alabama Street. Owner Steve Roberts plans to open the restaurant in April. (Hat tip, Up Down Town)
  • Anytime Fitness has opened a new downtown location on the second floor of the Majestic Building at 47 S. Pennsylvania St. The Minnesota-based chain, which offers 24-hour access to members, boasts that it is opening an average of one new club every business day and adding a new member every three minutes.
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  • Tea Cozy
    Sad to hear they didn't get enough traffic at their downtown space, I loved it. I'm glad to hear she plans to reopen in a new location, hopefully she keeps it in the city. Broad Ripple would be wonderful, or a downtown neighborhood with heavier foot traffic.
  • Sad
    I did kind of wonder about Tea Cozy in that location. I was there a month ago and it was a very pleasant time--but it never looked very busy. I wonder what could go in that space and do well?
  • Tea Cozy
    We had plans to meet another business contact at the Tea Cozy next week. This was a fabulous concept in a very convenient location for those of us downtown. I'm so sad to see this go away. It's been one of my favorites since it's open.
  • Hours were the Problem
    I tried to go a few times and their hours were very limited and other times it was supposed to be open and wasn't. I was thrilled when I saw it coming, but was never able to get there at an open time! I do thinkk that concept works well for a little house somewhere in BR or in/adjacent to one of the greater downtown historic neighborhoods.
  • Tea Cozy
    Two words for the Tea Cozy - Fountain Square!
  • Tea Cozy location?
    Too bad about Tea Cozy. To me, this seemed like a great location and their selection was superlative. I can only wonder if the operation style hurt the place: it couldn't decide to be a sit-down restaurant or a counter-style retail option. Perhaps if it had clearly allowed both (with a visible distinction between the two in terms of seating) it might attracted a broader clintele. Having a coffeehouse vibe at least in part would have attracted workers needing wireless internet.

    Tea's Me seems to achieve this balance more successfully in Fall Creek Place, an area with far less pedestrian traffic (and, no doubt, cheaper rents). Market Street generally has plenty of passers-by on weekdays, with exactly the crowd Tea Cozy should hope to attract. I wish Delores the best wherever she decides to relocate, but I really think that for what she was trying to achieve, DT was a better location than Broad Ripple. I'd love to hear other thoughts.
  • Urban Element
    Is Urban Element relocating or opening a second location?
  • Urban Element
    Ablerock: It is opening a second location. I will also clarify the post.
  • Thanks
    Thanks Cory. :-)
  • Urban Element
    This is awesome, I always got the two confused and now I don't have to be.

  • Sahms
    Does the Sahms at the new location have a dining area that does not require placing your order at the counter?
  • Something else
    Also Cornerstone downtown is now called Buzz. I'm guessing it's under new management. They have a few sandwiches. I had one today (the Cuban). It was pretty tasty.

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  1. The $104K to CRC would go toward debts service on $486M of existing debt they already have from other things outside this project. Keystone buys the bonds for 3.8M from CRC, and CRC in turn pays for the parking and site work, and some time later CRC buys them back (with interest) from the projected annual property tax revenue from the entire TIF district (est. $415K / yr. from just this property, plus more from all the other property in the TIF district), which in theory would be about a 10-year term, give-or-take. CRC is basically betting on the future, that property values will increase, driving up the tax revenue to the limit of the annual increase cap on commercial property (I think that's 3%). It should be noted that Keystone can't print money (unlike the Federal Treasury) so commercial property tax can only come from consumers, in this case the apartment renters and consumers of the goods and services offered by the ground floor retailers, and employees in the form of lower non-mandatory compensation items, such as bonuses, benefits, 401K match, etc.

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