Whelp. Turns out Charles Ferruzza was on to something.
Waid’s Restaurant, a Village Shops fixture for decades, closed its doors for good Sunday.
LANE4 Property Group, which owns the property, will likely redevelop it as part of the Village Shops Community Improvement District renovations. We’ve got a call in to LANE4 for comment — will update the post as soon as we’ve heard back.
Here are a few bullet points LANE4’s Justin Kaufmann sent over regarding the closure:
- Our ownership group is always looking for ways to improve The Village and Corinth.
- The Waid’s building had become pretty tired and was in need of a significant remodel.
- As the lease term for Waid’s came up for renewal we explored the possibility of mutually reinvesting into the existing building structure and leased space and entering into a long term agreement with the tenant. Unfortunately it was mutually determined in this process that this approach was not in the best interest of the landlord or tenant.
- We are now exploring other options for this part of the center and have many exciting opportunities available to us. We will keep the public updated as our plans for the next chapter of this parcel unfold.
“We can’t discuss any specifics of our plans for this lot right now as they aren’t finalized, but we do intend to make a significant change either through a remodel of the existing building or a complete redevelopment of the lot,” Kaufmann said via email.