One of the North Shore's biggest new commercial structures has landed its first tenants.
Restaurateurs Daniel and Brittany Alcala plan to move their Embargo 62 eatery that features authentic Cuban cuisine to 325 Cherokee, the three-story, 18,000-square-foot building at Cherokee Boulevard and Manning Street.
Also, Lawson Winchester Wealth Management, a financial consulting firm, plans to shift its operations to the new $3.5 million structure, said Carden Smith, a vice president for developer Fletcher Bright Co.
Smith said having about 50 surface parking spaces in the rear for the use of tenants is key to success for the new location. The site at 325 Cherokee is the latest development in the surge of residential and commercial projects added in recent years on the North Shore.
"That's really helpful for us seeing more people moving into the neighborhood," he said.
Daniel Alcala, who with his wife operates under Rocbeach Hospitality, said Embargo 62 will move about a block from its existing site on Cherokee Boulevard to the ground floor of 325 Cherokee.
The new space offers a bigger kitchen, permitting an expansion of the menu, as well as added seating for patrons, he said. In addition, there will be a dedicated stage when bands are brought in for entertainment, Alcala said.
He, too, cited the dedicated parking, which will be an improvement over the off-street parking on which the existing site now depends. Alcala said the new location is to open in late fall.
Additionally, he said, plans are to debut a new bar at the current Embargo 62 location at 301 Cherokee Blvd., and his company will open a third North Shore location at what had been Sip Coffee + Kitchen at Velma and Kent streets, a block off of Cherokee.
Alcala said he expects that location to hold an Italian meatball concept restaurant featuring "Brooklyn and South Philly food."
"We've got to turn it into Little Italy and New York," he said about the space where Chattanooga developer John Wise had opened Sip Coffee + Kitchen less than three months ago.
Alcala said he likes the array of new apartments which have opened or are under construction in the North Shore.
"There are 700 to 800 apartments ," he said. "We love that part of town."
Meanwhile, Lawson Winchester Wealth Management will relocate to 325 Cherokee from its existing offices at the Read House, Smith said. He said the consultants will take up most of the building's third floor.
Smith said Lawson Winchester plan to open at the new building in November.
Jeff Jennings of NAI Charter Real Estate Corp., who helped broker that move, said the new space fits well for the financial consulting firm.
Fletcher Bright Co. also is working on a $6 million makeover to an existing commercial structure on the North Shore and bringing in a mix of retail and restaurant space to the opposite side of Cherokee Boulevard.
Contact Mike Pare at mpare@timesfreepress.com or 423-757-6318.