The upscale cocktail and food spot was viewed by area residents as a step towards revitalizing the Broadway block between West 99th and 100th streets, described as “blighted” and an “eyesore” by local leaders.
According to a post on its website Monday, however, Alamo will no longer push ahead with plans for the location that have been in the works since spring 2012.
“Construction costs have risen tremendously since engaging in the project back in early 2012 (due in some measure to ongoing Hurricane Sandy reconstruction efforts) and ultimately the location is no longer financially viable for us,” the owners wrote.
All hope is not lost, however, as the owners noted the possibility of opening another Upper West Side location.
“We would love to make the Upper West Side location our next neighborhood theater in New York, but we cannot see this particular location as sustainable under current conditions,” they wrote.
The chain, primarily based in Texas, opened a theater in Yonkers last month and has a Downtown Brooklyn locale currently under construction. [DNAinfo] — Julie Strickland