Businesses on Colfax are in trouble.
As construction of the bus rapid transit line down Colfax continues, eateries and retailers along the corridor say they’re feeling the effects in the form of reduced sales and fewer customers.
“They’re just staying away from this area altogether because of the construction,” said Maud Schaefer, the second-generation owner of Tommy’s Thai.
Tommy’s Thai owner Maud Schaefer and her daughter standing outside their restaurant at 3410 E. Colfax Ave. (Hayden Kim/BusinessDen)
Schaefer said revenue at Tommy’s Thai has dropped 25-35%, forcing her to make some difficult decisions.
“We’ve cut a lot,” Schaefer says. “And the people that work here are family or they’re friends.”
The restaurant at 3410 E. Colfax Ave. did receive a one-time payment, of $15,000, from Denver’s Business Impact Opportunity fund, which is intended to partially mitigate losses. It was one of 29 businesses, from Starbucks to Cerebral Brewing, that received cash in a round announced last month.
In order to qualify, a business must show at least a 20% decline in revenue over 90 consecutive days compared to pre-construction. Businesses that qualify and have less than $100,000 in annual revenue receive $7,500. Those with annual revenue greater than that get $15,000.
Down the road, the diner Pete’s Kitchen has yet to qualify for any city funds, as revenue is only down 12%. But manager Alex Barakos, a third-generation member of the family that owns the eatery, noted that $15,000 isn’t a game-changer anyway.
“It’s a drop in the bucket,” he said.
He said the business has had to cut shifts for many longtime employees, some of whom have worked for Pete’s Kitchen for more than 20 years.
Barakos is also the President of the Colfax Business Improvement District. He’s been in contact with the city but said there hasn’t been much action outside of the BIO fund.
“I’m begging and begging for help and nobody’s answering my calls,” Barakos said.
He’d like to see a 1 to 4% sales tax abatement.
“It’s basic economics,” he said.
Two rounds of BIO funds have gone out so far. Another round will open on Sept. 2. In addition to East Colfax, businesses along a short stretch of West Colfax — where construction unrelated to the bus line is underway — are eligible.
Here are the businesses that received BIO funds in the latest round released July 24:
• Brothers BBQ Catering and Party Planning, Inc. – $15,000
• Cerebral Brewing LLC – $15,000
• Denver Fresh Mex – $15,000
• Squire Lounge – $15,000
• The Ethiopian Resturant – $15,000
• John’s Liquor – $15,000
• Starbucks – $15,000
• Good Chemistry / DanksAlot – $15,000
• Saucy Bombay and Bombay Clay Oven – $15,000
• The Eyebrow Lady LLC – $15,000
• The Learned Lemur – $15,000
• Vincent Convenience Market – $15,000
• Tommy’s Thai Restaurant – $15,000
• Le Clare’s Patisserie – $15,000
• Yahya’s Mediterranean Grill and Pastries – $15,000
• Hollywood Nails – $15,000
• Kinga’s LLC – $15,000
• Molotov – $15,000
• Lula Rose General Store – $15,000
• Pampered Paws – $15,000
• Pho-Natic – $15,000
• Phone Repair and More -$15,000
• Living Younger Longer Institute – $15,000
• Gustattoo – $7,500
• Lawrence And Larimer – $7,500
• Love and Glory LLC – $7,500
• Preston and James LLC – $7,500
• Shelliedidit LLC – $7,500
• Ornament Adornments – $7,500
Businesses on Colfax are in trouble.
As construction of the bus rapid transit line down Colfax continues, eateries and retailers along the corridor say they’re feeling the effects in the form of reduced sales and fewer customers.
“They’re just staying away from this area altogether because of the construction,” said Maud Schaefer, the second-generation owner of Tommy’s Thai.
Tommy’s Thai owner Maud Schaefer and her daughter standing outside their restaurant at 3410 E. Colfax Ave. (Hayden Kim/BusinessDen)
Schaefer said revenue at Tommy’s Thai has dropped 25-35%, forcing her to make some difficult decisions.
“We’ve cut a lot,” Schaefer says. “And the people that work here are family or they’re friends.”
The restaurant at 3410 E. Colfax Ave. did receive a one-time payment, of $15,000, from Denver’s Business Impact Opportunity fund, which is intended to partially mitigate losses. It was one of 29 businesses, from Starbucks to Cerebral Brewing, that received cash in a round announced last month.
In order to qualify, a business must show at least a 20% decline in revenue over 90 consecutive days compared to pre-construction. Businesses that qualify and have less than $100,000 in annual revenue receive $7,500. Those with annual revenue greater than that get $15,000.
Down the road, the diner Pete’s Kitchen has yet to qualify for any city funds, as revenue is only down 12%. But manager Alex Barakos, a third-generation member of the family that owns the eatery, noted that $15,000 isn’t a game-changer anyway.
“It’s a drop in the bucket,” he said.
He said the business has had to cut shifts for many longtime employees, some of whom have worked for Pete’s Kitchen for more than 20 years.
Barakos is also the President of the Colfax Business Improvement District. He’s been in contact with the city but said there hasn’t been much action outside of the BIO fund.
“I’m begging and begging for help and nobody’s answering my calls,” Barakos said.
He’d like to see a 1 to 4% sales tax abatement.
“It’s basic economics,” he said.
Two rounds of BIO funds have gone out so far. Another round will open on Sept. 2. In addition to East Colfax, businesses along a short stretch of West Colfax — where construction unrelated to the bus line is underway — are eligible.
Here are the businesses that received BIO funds in the latest round released July 24:
• Brothers BBQ Catering and Party Planning, Inc. – $15,000
• Cerebral Brewing LLC – $15,000
• Denver Fresh Mex – $15,000
• Squire Lounge – $15,000
• The Ethiopian Resturant – $15,000
• John’s Liquor – $15,000
• Starbucks – $15,000
• Good Chemistry / DanksAlot – $15,000
• Saucy Bombay and Bombay Clay Oven – $15,000
• The Eyebrow Lady LLC – $15,000
• The Learned Lemur – $15,000
• Vincent Convenience Market – $15,000
• Tommy’s Thai Restaurant – $15,000
• Le Clare’s Patisserie – $15,000
• Yahya’s Mediterranean Grill and Pastries – $15,000
• Hollywood Nails – $15,000
• Kinga’s LLC – $15,000
• Molotov – $15,000
• Lula Rose General Store – $15,000
• Pampered Paws – $15,000
• Pho-Natic – $15,000
• Phone Repair and More -$15,000
• Living Younger Longer Institute – $15,000
• Gustattoo – $7,500
• Lawrence And Larimer – $7,500
• Love and Glory LLC – $7,500
• Preston and James LLC – $7,500
• Shelliedidit LLC – $7,500
• Ornament Adornments – $7,500
