The closure of Wood Tavern, a popular establishment in Wynwood, has sparked concerns about the trend of local businesses being priced out of the neighborhood. Felix Bendersky, from F + B Hospitality Brokerage, has highlighted the challenges facing restaurants and small businesses in Wynwood. He predicts that 50 to 100 establishments could close in the next 30 to 60 days due to rising costs and limited inventory.
Yanni Kralievits, the owner of Smugglers Cocina Cubana, expressed his worries about the increasing cost of renting a space in Wynwood. The rapid turnover of businesses in Wynwood reflects the high demand for commercial properties in the area. With its vibrant art scene, trendy bars, and bustling restaurants, Wynwood has become a popular destination. However, as more residential properties move in, changes and challenges for local businesses are inevitable.
Wood Tavern’s closure serves as a reminder of this shifting landscape. The owner announced on social media that the bar will not be reopening due to permit issues. This news highlights the need for continued support for local businesses in Wynwood as they navigate these challenges and adapt to change.
As a journalist covering this story, I spoke with several business owners who shared their concerns about rising costs and limited inventory. They also expressed their appreciation for community support and collaboration efforts that help keep them afloat amidst these challenges.
In conclusion, while Wood Tavern’s closure is a cause for concern, it also serves as an opportunity for growth and transformation within Wynwood’s business community. As new developments continue to emerge and older buildings are repurposed or demolished, it will be important to support local businesses through these changes while ensuring sustainable growth and development for all stakeholders involved.
