It will be another month before the future of Stone Brewing’s Richmond bistro becomes more clear.
A City Council resolution that would allow Stone and the city to demolish the long-dormant Intermediate Terminal building at 3101 E. Main St. and construct a 12,000-square-foot restaurant and taproom in its place has been delayed until the council’s April 23 meeting.
The resolution was initially on Monday’s council agenda. Council approval is needed to amend the 2015 agreement between the brewery and the city.
The effort to raze the nearly century-old building in the Fulton neighborhood is a change of course for the city and Stone, as they previously had agreed to convert the dilapidated 30,000-square-foot structure into the brewery’s World Bistro & Gardens.
They claim an engineering report determined the building is not structurally sound enough to be renovated to house the venture.
The 2015 deal that helped bring Stone to Richmond included $8 million in bonds the city would float to pay for construction of the restaurant and taproom, in exchange for Stone leasing the site for at least 25 years to cover the debt. The city’s portion of that deal will not be increased as a result of the plan change.
The agreement also included $23 million in bonds the city provided to build Stone’s nearby production facility in Fulton, which opened in 2016. That side of the deal also involved a 25-year lease, with the brewer paying rent, real estate taxes, maintenance costs and insurance.