A developer and a caterer have struck a deal that will make it easier to see the downtown skyline from Scott’s Addition.
Snipes Properties and Mosaic Catering + Events signed a one-year marketing and management arrangement last month that will allow events to be held on the rooftop and upper-level loft of the Hofheimer Building at 2816 W. Broad St.
The agreement lets Mosaic handle the booking and organizing of events at the venue, which is owned by Carter and Annie Snipes. The couple purchased the 14,000-square-foot property in January for $350,000 and have begun a $1.5 million renovation and signed restaurateur Peter Chang as their first tenant for a 3,000-square-foot part of the building.
Snipes Properties held at least two events seeking input from the public on what the best use for the Hofheimer Building would be. Carter Snipes said the most common refrain was an events space, and he had the building rezoned in November to allow the rooftop to host events.
“This gives the public access to the rooftop,” he said.
Snipes said Mosaic presented a business plan in the fall that persuaded him that an events space would be profitable. Snipes Properties had already rented the space out three times for art events without advertising and prior to beginning renovations on the building.
Mosaic has done catering and event planning since 1997 and is based out of a property at 3001 Cutshaw Ave. near the Hofheimer Building. Snipes Properties will get a percentage of the rental fee for each event.
“Based on their projections in the events space, the pro forma will exceed a normal office rental,” Snipes said. “That revenue was higher than a price per square foot basis for a standard tenant.”
The property will be ready for more robust events in March, for which there already three events on the books.
Mosaic Catering Director Ryan Traylor said the deal with Snipes gives the catering company a great source for leads.
“We moved to Scott’s Addition about three years ago and have watched that area transform,” Traylor said. “We’ve had clients who want something different than a ballroom. People are looking for something a little more raw.”
Traylor said Mosaic hopes to do at least 35 events at the Hofheimer building in 2016. The rates are still being finalized. He said the deal is the first in which Mosaic will do all the management and booking for a venue.
“We’re always looking for new spaces,” Traylor said. “There’s a limited amount of urban alfresco space for events.”
In addition to renting the space out for private events, the Snipes family and Mosaic plan to put on a monthly event for the public to come drink and eat at the property.
There are two spaces still available for lease at the Hofheimer Building: a 3,600-square-foot office space and a 3,000-square-foor retail or restaurant space.
Chang is expected to open in the building next year.