Feb 8, 2024 - News

Quote of the day: No Yafo for Uptown

uptown charlotte

Uptown Charlotte. Photo: Alexandria Sands/Axios

Good news and bad news for Uptown, depending on whom among a panel of market experts you ask, Alex writes.

  • Expect the vibrancy to return eventually, predicts Travis Garland of Portman.
  • But don't expect to get a Yafo, Midwood Smokehouse or any other Frank Scibelli establishment in Uptown any time soon.

Driving the news: Scibelli, Garland and developer Hank Farmer of Third & Urban offered perspectives on this year's commercial real estate market at a panel this week that was moderated by Christianna Williams, SVP of the commercial real estate firm Cresa.

Scibelli's take: While other restaurants do well in Uptown, he says he's not as willing to take the risk.

  • "I can take the same money and invest it in another area that's got a little daytime population and nighttime population and get a better return," he said.
  • He added that he'd like to add "probably two to four restaurants a year," including possibly another Paco's.

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