The Locker Room and Riverside Tavern occupy some of the buildings Dodson recently bought. (Mike Platania photos)
Dodson Development Group has struck another deal in Forest Hill, this time with a plan to pepper in some new apartments next to two neighborhood restaurants.
The firm, led by Duke Dodson, last month purchased the three buildings at 5035-5057 Forest Hill Ave. for $2.6 million.
Two of the buildings are occupied by longtime Southside haunt The Locker Room and relative newcomer Riverside Tavern. The building in the middle at 5047 Forest Hill Ave. was once home to Cafe Zata and Westover Station but is now occupied by food processing firm Defiant Food Group.
Adam Tiller, Dodson’s director of development and acquisitions, said the primary change Dodson has in mind for the properties is at Defiant’s building, where the company is planning to build 10 or 11 apartments in the building’s vacant top floor.
“We currently don’t have any major redevelopment or site plans other than landscaping, repaving, and potentially reconfiguring the parking area,” Tiller said in an email.
City property records show Dodson’s deal closed March 17. The city most recently assessed the property at $1.3 million.
It’s the second deal Dodson has made along Forest Hill Avenue in the past six months. Last fall the company partnered with fellow local developer Daniil Kleyman to buy the former Bank of America branch just to the east at 4701 Forest Hill Ave. The duo plan to raze the vacant building to make way for a mixed-use building with 40 apartments and ground-floor retail space.
While The Locker Room has been open for over 40 years, Riverside Tavern joined the neighborhood in late 2021 when it took over the space from The Forest restaurant. Riverside Tavern co-owner Blair Manning described his concept as a “local spot with a twang of high-end cocktails.”
Riverside Tavern opened in The Forest’s old space in 2021.
“We’re definitely a neighborhood bar and grill. We have some higher-end entrees and specials but we have a pretty extensive cocktail menu. We’re getting known for that,” Manning said.
Between his current lease and an additional five-year option, Manning said he’s hoping Riverside Tavern will be on Forest Hill Avenue for at least another eight years.
Just to the west of Riverside Tavern is the Westover Place shopping center that another pair of local developers are looking to replace with a new, 30-unit mixed-use building.
Nolen Blackwood, who’s leading the project with Michael Plotkin, said that their plan is still in the works but that they’re mostly waiting to see if there will be an adjustment in building costs and interest rates before beginning construction.
“We’re still waiting to see how the market reacts,” Blackwood said. “We own the lot jointly and we have an approved plan of development. We’re just waiting at this point.”
The Locker Room and Riverside Tavern occupy some of the buildings Dodson recently bought. (Mike Platania photos)
Dodson Development Group has struck another deal in Forest Hill, this time with a plan to pepper in some new apartments next to two neighborhood restaurants.
The firm, led by Duke Dodson, last month purchased the three buildings at 5035-5057 Forest Hill Ave. for $2.6 million.
Two of the buildings are occupied by longtime Southside haunt The Locker Room and relative newcomer Riverside Tavern. The building in the middle at 5047 Forest Hill Ave. was once home to Cafe Zata and Westover Station but is now occupied by food processing firm Defiant Food Group.
Adam Tiller, Dodson’s director of development and acquisitions, said the primary change Dodson has in mind for the properties is at Defiant’s building, where the company is planning to build 10 or 11 apartments in the building’s vacant top floor.
“We currently don’t have any major redevelopment or site plans other than landscaping, repaving, and potentially reconfiguring the parking area,” Tiller said in an email.
City property records show Dodson’s deal closed March 17. The city most recently assessed the property at $1.3 million.
It’s the second deal Dodson has made along Forest Hill Avenue in the past six months. Last fall the company partnered with fellow local developer Daniil Kleyman to buy the former Bank of America branch just to the east at 4701 Forest Hill Ave. The duo plan to raze the vacant building to make way for a mixed-use building with 40 apartments and ground-floor retail space.
While The Locker Room has been open for over 40 years, Riverside Tavern joined the neighborhood in late 2021 when it took over the space from The Forest restaurant. Riverside Tavern co-owner Blair Manning described his concept as a “local spot with a twang of high-end cocktails.”
Riverside Tavern opened in The Forest’s old space in 2021.
“We’re definitely a neighborhood bar and grill. We have some higher-end entrees and specials but we have a pretty extensive cocktail menu. We’re getting known for that,” Manning said.
Between his current lease and an additional five-year option, Manning said he’s hoping Riverside Tavern will be on Forest Hill Avenue for at least another eight years.
Just to the west of Riverside Tavern is the Westover Place shopping center that another pair of local developers are looking to replace with a new, 30-unit mixed-use building.
Nolen Blackwood, who’s leading the project with Michael Plotkin, said that their plan is still in the works but that they’re mostly waiting to see if there will be an adjustment in building costs and interest rates before beginning construction.
“We’re still waiting to see how the market reacts,” Blackwood said. “We own the lot jointly and we have an approved plan of development. We’re just waiting at this point.”
This sounds like a great use of the space. Hopefully they’re able to add plenty of windows.
Further proof the City is under assessing commercial properties.
You would feel differently if you owned those commercial properties?
Actually I would not as I believe in treating everyone equally. State law dictates tax assessments shall be 95-100 percent of fair market value. Fair market value is the amounts real estate actually sells for. Either the City commercial tax assessors do not know what they are doing, or that office succumbs to the pressure of the commercial property owners. Residential property owners do not have that benefit.
My commercial assessment is up over 90% in 5 years with no improvements. Forgive me if I don’t share your assessment.
John, what do comps suggest it would sell for compared to the assessment? No one likes to have their assessment go up if they have no plans to sell; however, when you look at comps around the city, commercial properties sell for well over assessments very often.
Not in Scott’s Addition.