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Dec
28
Opening up the Vault: The Mint Restaurant Prepares to Open
Written by J. Chavis and filed under Development, Food and Beverage
The Mint, a controversial new Fayetteville Street restaurant, is getting close to opening. If you walk down Exchange Plaza, you’ll notice that an outdoor seating area has been added complete with outdoor heating. And if you peer into the windows at the 219 Fayetteville Street / One Exchange Plaza address you can see that the floors are done, the tables are there and a lot of the artwork is already on the walls.
It looks nice, but the question is: Will it be good enough to justify everything the city has invested in it? Yes, it’s been rumored/heard that the city has invested in this restaurant.
It’s no secret that the city wants the newly reopened Fayetteville Street to be a huge success. Nevertheless, it hardly seems fair to other restaurant owners in the downtown area – especially those existing restaurants on Fayetteville Street who had to weather a lull during the construction period. Why does the Mint get help when everyone else has to fend for themselves? On top of that, I’ve heard that the Mint is supposed to be an upscale place. I wonder how lower-income taxpayers feel about helping to pay for a place that they might never be able to afford.
That said, look for me in Exchange Plaza on New Years. I’ll just be the one asking for my 10% tax-payers discount…
Editors note: Take this story for what you will. It should not be considered fact, and if quotable sources were available they’d be included. That said, it you have news or know more about The Mint and the city’s involvement, feel free to contribute with a comment.
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42 Responses to “Opening up the Vault: The Mint Restaurant Prepares to Open”
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I only have your story to go by, but the idea of the city subsidizing a restaurant downtown makes me sick.
Not only could I use the typical arguments of better things that the money could have been spent on, but businesses deserve no assistance from local governments to operate–much less ones that cater to the well-to-do crowd. Government handouts are not the solution to bring businesses downtown. The folks hit the hardest by taxes are the ones in the lower bracket, and they certainly aren’t going to be patronizing this posh place.
Shame on you, Raleigh. This makes me sick. This is one place I certainly won’t be supporting.
i finally get the name “mint” this is where the city’s money is located. hah.
http://picasaweb.google.com/robert.royster/Mint1207
here is pics of the restaurant posted by the owner. WOW, that is swank-city. i paid for those fancy faucets in the bathroom!
Judging by the photos and website, this place looks awesome. It seems like you guys are jumping the gun a little bit here… All I have heard so far is unsubstaciated speculation on this. You’d think the posters on this site were octogenarian women at CCC grinding the rumor mill. I’d certainly be willing to try this place out unless I hear otherwise.
ITBJD–
I’m sure it will be a fine restaurant. It is nothing personal against the owner or anyone else involved in its opening. The gripe is that the city is using tax dollars to subsidize a business. Why are we paying for yet another restaurant downtown? Restaurants are the one thing we have plenty of. With the horrendous lack of retail shopping and affordable housing, is this really the best use of taxpayer money?
The taxes collected by local municipalities don’t hurt the wallet of the well-to-do crowd, they hurt those with lower incomes. The ones with lower incomes are certainly not going to be benefiting from this.
The N&O states that it is “backed by financial incentives from the City of Raleigh” (http://www.newsobserver.com/1130/story/502625.html). This isn’t quite speculation.
John-
Thanks for the update… I’m not quite sure why that link wasn’t in the original post. (I wasn’t about to go searching archives as far back as late October for the scoop) I’d like to see details of the package, but I agree the money could be better spent on some more overlooked areas of downtown development.
I honestly do not see anything wrong with this. Cities and states give companies financial incentives all the time.
I would prefer something else besides a restaurant though but I’m not complaining. It just seems to me that the opening of The Mint is coinciding with the opening of the convention center, which will be up and running in about 10 months from now. The Mint needs some time to get things running and work out all the kinks before then. Conventioneers will be spending their money there, and other places too, which helps the downtown economy.
I’d like to know more info about the city’s help toward this though. Sounds to me like they are serious about helping downtown succeed, which I support. But if you don’t like it, then don’t support it, simple as that.
Thanks for the N&O link, John. You can also read BTB’s writing on this story here: http://tinyurl.com/2b7y8x
Leo,
Just because it happens all the time doesn’t make it right. I will have to respectfully disagree with you on this position. There a thousand other things that could have been opened here, without an injection of cash from the city. The markets should decide what goes up, not what city council wants (lunch at their desks, according to BTB). We all agree that out of towners spending money here is a good thing, but which is more important–rewarding visitors or rewarding the folks who paid the taxes that enabled its creation?
Downtown is on a trajectory to greatness now, without this fancy pants restaurant. These sorts of incentives are helpful to struggling post-industrial / textile towns that need jobs. Not for Raleigh.
I would like to have all the money back I have spent on subsidizing all the thugs dealing dope in Section 8 housing.
With Nana’s not making a go of it, why does anyone involved think they will be successful with the Mint? Does anyone know how Fins is doing on the corner of Davie and Wilmington in the Progress Energy II building? The city tried to lure Charlie Goodnight’s there when PE II was proposed but failed.
The city has offered facade grants to downtown businesses for years. That is why/how Mecca got their new sign, Fayetville Street Tavern, The Big Easy, Yancy’s etc. were more street-friendly.
There has been a Quiznos in One Exchange Plaza for years for people who can’t afford the Mint, though they don’t open at night (yet). The Brass Grill, Dos Taquitos Centro, Roly Poly, American Pita, Cafe Carolina, F Street Tavern, etc. all offer decently priced lunches.
There are only three or four wait-staffed restaurants on F Street right now — F Street Tavern, The Big Easy, Yancy’s, and (maybe, hence 3 or 4) the Sheraton Lobby’s restaurant.
I think the more “high end” places should be concentrated closer to the south end to be closer to the new CC and hotel (other city/county investments) and Raleigh Memorial Auditorium.
The Mint feels like a fish out of water in the 200 block of F Street, but the Mint, Empire’s The Pit, and Glenwood South could be good attractions to lure conventioneers out of their hotel/CC comfort zone.
One important detail you forgot to meantion is that the City owns the building and has GRESTLY increased the value of the building by putting this amazing restaurant on the first level in such a high profile location. There’s no telling what kind of rent they can charge for this high profilel spot now. I consider it a smart investment versus so many things they throw their money at and get no return on. Bravo City of Raleigh!!
John, you make ME sick. Raleigh is one of the hardest (and most expensive) cities to open a restaurant in due to the lack of city subsidies. In New York, anyone with a concept and $50,000 cash can open one up because of subsidies, and New York is a culinary meca because of that. Most people (myself included) measure a cities worth by their gastronomy scene. Heres some facts for you, before you get too sick too read what I’m about to tell you; The service industry is the second largest segment of employment in the country, next to the Federal Government (That includes the ARMY, NAVY, etc). Americans spend 25%-40% of their food dollars on food prepared outside the home. Sounds like the restaurant industry is a pretty important part of our economy, whether you and your simple, dog-like palate like it or not.
As it is, the government offers subsidies to billion-dollar industries that don’t need it; http://www.ncicl.org/LITIGATION/QA.html/.
Subsidies to the kids that drive to their classes at my community college in 7 series Beemers, and, for Christ’s sake, subsidies to 16 year old mothers that spend the check on pot and 40s (My little sister was friends with a girl that lived this example, I swear to you its not some Reagan-esque “Welfare queens drive Cadillacs!” fabrication), but they cant offer subsidies to a SMALL, INDEPENDENTLY OWNED business that will employ anywhere from 20-30 (Mostly undereducated, mind you) people? Without so much as a high school diploma or a full mastery of the English language, one could make a living for themselves in the kitchen of a restaurant, a bussboy can make $17-25k a year, and a server can easily make $35k a year. What other (Legal and fairly moral) industry in America can a high school drop-out or recent arrival to our country make that kind of money? Or would you prefer the government just hands them a check, you socialist pig?
Or are you just mad because you have McDonalds value meal pockets and are jealous of those whom will be enjoying the Foie Gras of the day at The Mint? If thats the case, piss off! Because if your poor in America, your a lazy douchbag.
Or disabled. And if thats the case, here ya go;
http://pnnonline.org/article.php?sid=4444
Are you people on crack? What do you think downtown Raleigh will generate for the entire city?… more people living there, more busniesses, real estate values going up, hence making a broader tax base to lower your stupid financial responsibility? Just look at what has happened to Fayetteville Street development since THE CITY paid to re-open the street after a bunch of goof balls closed it three decades ago only to snuff out every bit of business from what was once a trhiving shopping center!!! Besides… I really doubt the city paid for the Mint’s renovation - they probably DID get tax credits. But even if the city paid for any of it… more power to them… they should do it more often! UGH… get a grip!
Wow….. Thank God all you people want to see this weak city make a go at a good restaurant. Which for your info, this city does not have. Give it up… it has allready happened, deal with it.
The mint has an extremely talented chef and some lofty goals. If the city did help them get going, what’s the big deal? Quality retail isn’t going to move in to a desolate street. If the Mint is successful then hopefully something other than another dollar store will open up nearby. I think there should be some guidelines, but there is nothing wrong with the city helping itself.
I was at Mint on Saturday. The place is amazing and really brings downtown Raleigh up a notch.
Oh and by the way, financial incentives are in no way subsidizing. The restaurant is not given tax payer money. Incentives are used to encourage business development which, of course, is good for the economy and offers new jobs. Gov’t incentives help our economy grow and stay alive. It’s what makes company’s choose Raleigh instead of Charlotte for example.
If this was the 10th white tablecloth restaurant to open downtown, and 3rd or 4th one on Fayetville Street, then I would be worried. But it is a “first mover/pioneer” in the area, and one of few upscale restaurants in all of downtown. Fayetville Street is Raleigh’s closet eqivalent of a shuttered textile mill — former retail center that government subsidies elsewhere (440 beltine, road improvments across North Raleigh, 540 outer loop) left it for dead.
*City of Raleigh* funds (street level space in its buildling, some $ for upfitting), not county or state money. I *hope* no one is suggesting that Raleigh send its money to help rennovate a textile mill somewhere else in the state.
When/if the city sells the building, it will be a lot easier sell with happy street level tenants. The Mint is a financial and social investment into the city core. It is the lack of investment in anything inside 440 for decades that left downtown in the shape it was before Fayetville Street reopened.
Steve,
I must admit that I was slightly irrational in my initial assessments, but I do stand by the belief that whatever amount of money the city dangled in front of the restaurant owners, it was too much. The issue is about fair market economics. Why does that restaurant deserve to get a break when so many others stuck by downtown when it wasn’t in vogue to do so? It’s government interference.
Your argument about it being such a great employer is an invalid one. That isn’t the point. How many restaurants are there? A metric f#$% ton, that’s how many. My point is that we already have plenty of fine restaurants.
I worked at a restaurant for 3 years. The first 3 years I lived in Raleigh, in fact. I mention as much in the About section of my blog. Yes, it allows many people without an education and plenty more with one to earn a great living that they may not otherwise. Does this make them a great employer? I don’t think so. I earned great money but it also came with a price:
A screwed up schedule (You are always working when everyone else is relaxing)
body was consistently fatigued
very poor health insurance options, if any at all
Very stressful work environment, prone to abuse by customers
difficult or to get time off
dangerous work environment–falls, slips, broken glass, etc.
I could go on and on. Very few servers in the restaurant industry would admit to being a career waiter. It’s always the thing to do to earn money while they try to succeed at something else. But, the merits of a restaurant as an employer aren’t what I’m railing against. Without government interference, there’s a better chance that a business would open up out of market demand rather than what city council wants.
I am curious why you think I’m a socialist. In fact it is quite the opposite. Socialist-like governments try to run and establish markets, and they consistently fail (On a large scale, not this specific case). Local governments should address property rights issues like teardowns (which the council appears to be moving towards) and crime. Deciding what restaurant would be good downtown isn’t one of them, in my opinion.
Lee,
Are you serious? Are you really saying there isn’t one fine dining establishment downtown? I also disagree with your assessment of Raleigh being “weak”.
I think it is a good thing to have some upscale restaurants down town. But where is the parking?
I think it’s great for downtown and the city is investing into the development downtown. It’s not like the city picked someone they knew or the owners of the mint lobbied for the money - the city’s offer was posted and they took proposals. I visited the Mint recently for a dinner party of 20+ and it was a great experience. Food was good - service was excellent. More importantly - what the city scene IS lacking is SERVICE. I think it’s GREAT for the city and it’s an investment that will bring additional traffic - with additional traffic, businesses will thrive - so I hardly see a complaint for the city investing in the Mint. I feel surrounding businesses should stop complaining and start providing service to the customers that will be coming in. They will, in turn, reap the benefits.
Every landlord gives businesses upfit money. Every Restaurant downtown has been “subsidized” by their landlord. Usually the upfit money is tied to the difficulty of bringing the space up to code and involves updating infrastructure. This building is fairly old and I would guess it took a BUNCH of money to even get it to this point. The City now owns ALL these upgrades. If this concept doesn’t work, someone else will swoop in and take the spot because it is already upfit. This would really be an investment in their own building.
So how does the city win?
Prepared Food Tax and Rent. How quickly do you think the City will recoup their money with the Prepared Food Tax at a Fine, Upscale Restaurant with the convention center opening this year and rent being paid? It could have been a city office and producing no income for the city. That would have been the tragedy.
Now we have a nice, new restaurant to try.
See you there.
Who are the people running this joint? What other four star places do they run in this area? Does the chef have an amazing rep? Right now I’m getting a Randy Parton vibe from this place. Everyone is viewing the convention center as bringing in deep pockets, but all I heard was a PE teacher association booking the joint. Are PE teachers going to pay $200 for dinner?
I doubt this place will give my wife foodgasms like The Underground used to.
and will the Mint serve water to customers?
Steve, before you go on rant calling people socialist pigs and talking about how you masturbate daily to Foie Gras, you should stop to make sure you know what the hell you are talking about. John’s arguments were exactly opposite to those of a socialist.
By the way, The Mint serves a mean chilli dog. Oooh yeah, and get some of those pickled hog balls. I heard they were delicious.
WRAL coverage: http://wral.com/news/local/story/2280577/
Leo said…”But if you don’t like it, then don’t support it, simple as that.”
Too late - we have paid for it, either through direct investment or incentives…so, like the US Post Office or your public school system, you have no choice in your support for it - that money is taken from you by force and dispersed as seen fit by whatever group of administrators happen to be in power at the time. The REAL question all of you should be asking is “why are we paying taxes at all?”…..as I see it, sudsidizing this restaurant is no better or worse than subsidizing, or nationalizing, any other industry…like the mail, education, agriculture, roads, communications, water supply, power supply, health care…it’s all the same. No one on this forum has any business getting upset with what happened with The Mint unless you are equally outraged by all the OTHER ways your government wastes that money that it takes from you.
Stop taxation, and what’s “fair” will come to light.
I like this piece on the comments section at wral:
And in doing a tax search for Raleigh Restaurant Group, either they’re not a legal business entity, or this is a start-up, and their only holding. They currently use 219 Fayetteville Street as the business address (for tax purposes), and their taxes are delinquent. If they can’t pay a $417.81 tax bill, how do you think they’re going to run their business?
Why should the folks running the Mint pay taxes since it’s just cash that will be circling back to their cash register.
Nice to see the folks at WRAL aren’t doing any real investigation. Guess like the lottery, this is something their parent company is backing or at least Jim Goodman is counting on getting his possum balls comped.
I drive on the roads, I went to school and I enjoy sending letters in the mail. But what the hell are the odds that we’ll be dining at this place within a year?
I just hope none of the patrons of this restaurant expect Raleigh to continue to be a safe place to live. We’ve got cops leaving the ranks right and left because our salaries aren’t even remotely competitive with neighboring towns/cities, but we can’t seem to find a dime to give some of these guys and gals a raise… Guess when the ‘ol crime rate starts creeping up people will finally do something about it…you know, when it’s too late.
^^^^^^ Thread Hijack
I’ve seen this post elsewhere.
here’s an idea, why don’t we all sit around and complain a little more about some people trying to actually do something good for themselves and their community when they could be sitting around and complaining what other people are doing? there are plenty of restaurants in downtown raleigh that have received some start up help from the local gov’t. and not to mention the rest of the money that was put in by other owners at this restaurant more than doubles what the city threw in, so in that case, i guess one could say that it is all relative. if you are going to complain about not giving gov’t employees a raise (some of them give themselves raises anually anyhow)and you are worried about the crime rate going up, then why don’t we boycott hurricanes’ games and stop going to movies and just don’t turn on the television, or listen to cds.. all of that is entertainment, the money that those activities generate should be in the pockets of police officers, teachers, and the like, so if you really want to make a dent, just sit at home and, well, complain about other peoples’ ways of life. also, any addition to the culinary community here should be a welcome cause, this city is so far behind when it comes to dining, it is laughable; and whoever thinks that there are serious health risks working in a restaurant.. first of all, it is the choice of the employee to earn their money that way, and the other concerns listed above are just really stupid (slip and fall? sharp glass? are you two?). everyone should just relax and go check it out, you will probably enjoy yourself if you just let go a little (and there is nothing wrong with masterbating to foie gras)
You are right that the Carolina Hurricanes must be stopped.
Because of the water shortage they should ban the Carolina Hurricanes. How much water gets wasted at the RBC center? How many flushes per game from the urinals alone. Where’s the let it mellow rule at home games? And why must the players constantly shower? Does Eric Staal stick to 25 gallons a day at the RBC? And what about all that frozen water that gets dumped outside the RBC center thanks to the Zamboni?
They’re wasting water and we’re paying for it. And we’re going to pay another $50 million to upgrade the leaking toilet known as RBC.
It’d be nice if Raleigh became a center for fine dining in America. Contrary to the mayor’s dream, we’re still considered Bumpkinville to the outside world. I still meet people who think the Hurricanes play in Charlotte. But now that we have a Vegas style fancy downtown fine dining shack, we’re gonna make it.
I think you guys should stop complaining and go enjoy the place. It isn’t going anywhere. It is helping to restore downtown Raleigh for which we should all be thankful for. There are plenty of places that our tax dollars go that we are unable to enjoy, atleast this one is accessible to us. The food is amazing and so is the atmosphere. And to answer your question hj, they have complimentary parking.
oops, complimentary VALET parking….sorry for the typo..
^Valet and 3 parking decks a block away (with 2 more under construction). Parking to go out to dinner should never be an issue, in any part of downtown.
valet parking is a plus since it removes the chance of Cary-ites having to encounter the downtown element.
whoa; uber bitterness here. There really aren’t too many other options for high end dining in downtown Raleigh. This will certainly be a welcome to our city and will thrive due to its location close to the convention center (although it is only PE teachers that have booked it, please), and the Progress Energy Center for Performing Arts. I imagine the latter will be the main source of clientèle for the Mint. Best wishes, I’m starting to save now so I can give it a shot…in about 3 years.
BTW; is there a website? Any info on the menu?
Thanks.
The idea that service industry folk are uneducated and working in the only job that will accept them is foolish. I run a bar, that’s right a bar, and the people I work with are very educated and love their life. Many of them tried the desk world and just couldn’t do it. I have people here that travel the world seeking life as leisure and make a living at the same time and mostly with no debt. We seek great wine, beer and know how to cook well. It is one of the most fascinating industries. Check out the networks and rags.
As far as The Mint goes they did receive about 1mil from the city and they are not local. That is why people are miffed about it. It could have went to some local talent instead. Bringing any kind of business downtown is smart and will help everyone. I hope they do well however after reading all the shotgun and uninformed remarks here I am sad to say our local culture is quite stupid and won’t understand it. I guess we could put a few more applebees around because you don’t even have to leave your car to fill your fat ass. Of course they don’t support local economics now do they. Farmers and other idiots who make their way themselves the way they want to. The Mint will buy local unfortunately.
Oh and socialism isn’t dead yet…google Christopher’s Story.
www.themintrestaurant.com
We are local boys.
3 of us are NC State grads.
2 of us have done other restaurants in Raleigh.
Our aim is to bring a restaurant that everyone can enjoy at one time or another. Everyone doesn’t eat McDonalds every day nor does everyone eat at The Mint every day.
Some people will dine with us more than others. Some will dine with us on special occasions, anniversaries, birthdays or corporate events. I would think most people would be happy there is a new place to take that someone special.
There is a lot of blood, sweat and tears in this building. It is 4 peoples dream who live and work in Raleigh. Wish us well because we personally have A LOT riding on this venture.
Currently, we have a brand new team trying to work together. This is not an easy venture to say the least. It takes a lot of hard work by a group of great individuals. I can personally say I have never worked with a greater group of people. Every day we strive to get better. That’s all we can do.
To those with kind words, thank you for your support. We need it. To those bashing us before you have even given us a chance - shame on you.
Everyone deserves a chance to put their dream out there - it’s up to us to bring you back.
I’d like to personally invite those reading this board to join us at The Mint and look forward to meeting each and every one of you there. I am usually there Wednesday, Thursday and Saturday nights. I will not battle on this board but would be happy to discuss anything you have in mind at The Mint.
If you are inclined, you can join our email newsletter at http://www.themintrestaurant.com/contact.php
Till we meet,
Robert Royster
Partner
The Mint Restaurant
www.themintrestaurant.com
Robert,
Thank you for your comments. You’re obviously very passionate about this venture and I personally wish you much success.
Regarding the original post, are you willing to comment on the cities financial affiliation with the restaurant? I believe that subject is one that didn’t sit well with a lot of people, not an attack on a personal level.
The only comment I will make is the same the City said on the WRAL news broadcast. I don’t think “a lot of people” know how building this kind of thing works and think we got some incentives that aren’t available to EVERY restaurant from EVERY landlord.
This is the City’s building. Every landlord gives buildout money. Buildout money is usually applied to things the building owner will keep once the lease is up or the business doesn’t make it. You can’t take plumbing, hvac, electrical, etc with you when you leave. They become an asset of the building owner. It also makes the space much more attractive to the next potential tenant because no one has to expend that money again to build infrastructure. This is a very common practice. It just so happens that the City is our landlord and it is public knowledge.
The infrastructure costs on this project were massive because it was a bank. There is no favoritism nor any affiliation.
Lunch should begin Mid February with the Heated patio opening this spring. We are entering our 4th week and things are coming together.
Robert Royster
The Mint Restaurant
Thanks again for the comments, Robert. Please keep us updated on the restaurants success.