Parker Tap House to buy Schoolhouse Gym property

After a bump in the road, planned transaction is back on track

Posted 11/25/19

The owners of Parker Tap House are near finalizing a purchase and sale agreement for the Schoolhouse Gym property to begin construction of its two-story restaurant and sports bar. The applicant to …

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Parker Tap House to buy Schoolhouse Gym property

After a bump in the road, planned transaction is back on track

Posted

The owners of Parker Tap House are near finalizing a purchase and sale agreement for the Schoolhouse Gym property to begin construction of its two-story restaurant and sports bar.

The applicant to buy the land is listed as ACG, LLC. Weldy Feazell, marketing director for Parker’s urban renewal authority, Partnering for Parker’s Progress, confirmed the proposal was submitted by owners of the Parker Tap House.

The agreement to buy the land from the town for $411,185.25 was approved on first reading by council at the Nov. 18 meeting. The agreement is scheduled to be voted on Dec. 2.

A representative for the applicant could not be reached for comment after multiple attempts.

The Parker Tap House originally set out to purchase the land, at 19640 Mainstreet, in 2017. The ownership group, currently known as ACG, LLC, was able to secure tax and fee assistance from the town in the March 20, 2017 meeting, a milestone enabling them to move forward with the project. The group had missed the deadline to make an offer to the town for the property, and the town placed the property back on the market, according to Feazell. Feazell could not specify why the representatives from the Parker Tap House did not meet the original deadline.

The purchase and sale agreement between the town and ACG will go to a public hearing Dec. 2, when it will be voted on by council.

Town council approved on first reading a sale and purchase agreement between the town and ACG, LLC, for $330,000 with an additional $81,185.25 to be paid to the town by ACG for water-line improvements, according to the town council request form for the Nov. 18 town council meeting.

The agreement is expected to close by summer 2020. The Parker Tap House is a long-awaited restaurant and sports bar with designs that include a rooftop patio. Many came out in support of the business when it first sought tax and fee assistance in 2017, including the Parker Chamber of Commerce and members of the Downtown Business Alliance.

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