Thomas Novelly | Collegian
Unable to overcome more than $18,000 in back taxes and consistently high operating costs, Broad Street Downtown Market and Tavern officially closed its doors Sunday, despite numerous attempts to rebrand itself in the past four years.
“We were served with a foreclosure notice. It was posted on the door when I arrived for work on Monday morning,” a Jan. 27 statement on Broad Street’s Facebook page said. “This was for back taxes. That bill has been taken care of.”
At the time of publication, according to the city and county clerk’s offices, Broad Street has yet to pay three years of back taxes. On Tuesday, the county clerk’s records showed that for 2014 and 2015, the downtown market and tavern owed nearly $10,800. The city of Hillsdale, which handles the most recent year’s taxes, showed the establishment owes more than $8,000 for 2016.
In a staff meeting on Sunday, owners and management at Broad Street informed employees that they were all being let go immediately.
Former Broad Street general manager Cindy Paterson-McCoy said the news was devastating.
“I have been there six years and I have worked 70-plus hours a week,” Paterson-McCoy said. “I love Broad Street Tavern & Underground. I am let down and very heartbroken.”
According to the Hillsdale County Clerk’s office, no lawsuits have been filed by employees or owners in the wake of the restaurant’s sudden closure.
Jason Walters, manager of the the Hillsdale Municipal Airport and the owner of JWA consulting group, said the Broad Street owners called his company to evaluate the restaurant’s financial situation. Walters wouldn’t disclose the name of his other associates, but said that five other employees make up JWA.
“The staff at JWA worked diligently and exhaustively to identify paths to success for Broad Street,” Walters said in a statement. “Unfortunately, based on the analysis performed by JWA, the owners of Broad Street Market Tavern have decided the best option is to close and focus on working on a plan to restructure Broad Street’s operations.”
Thomas Novelly | Collegian
In an interview with The Hillsdale Collegian, Walters said the shareholders and owners of Broad Street Tavern reached an agreement, and all of 2014’s back taxes will be paid. When asked how his job as the city’s airport manager got him connected to helping Broad Street, Walters said the experiences have similarities.
“What does an airport and restaurant have in common? Nothing,” Walters said in an interview. “But a business is a business. Dealing with overhead, inventory, and what not. We were called over to resolve a problem.”
Even though the restaurant has been closed less than a week, Walters said there has already been a lot of interest in the property at 55 N. Broad St., and other dining establishments located both locally and outside the city are inquiring about moving in.
“I’m discussing re-opening options with several different existing restaurant owners. Some of them are local and some of them are from out of town,” Walters said. “Some are thinking about relocating or adding another location for their current restaurants.”
Walters did not disclose the names of businesses interested in moving into Broad Street, but mentioned that from the amount of inquiries he’s recieved, it won’t be closed long.
“We’ve received interest in the building from six to eight different parties,” Walters said. “So, we’re optimistic that there will be a solution soon.”
Broad Street Market has been operating in downtown Hillsdale since at least the 1970s, when it was owned by the late Edward A. Vajda. In its more than 40-year history, it underwent several renovations and promotions in an attempt to generate interest.
In May of 2014, the Hillsdale City Council approved Broad Street’s Obsolete Property Rehabilitation Exemption, a tax incentive that freezes growing tax rates as a property value grows. After approval, Broad Street began a $418,000 renovation of its 7,000 square-foot basement to create “The Underground” — a full-service bar, nightclub, and game room that frequently hosted live music events. City treasurer Julie Beeker said since Broad Street hasn’t paid its 2016 taxes, the business may lose its tax exemption.
In hopes of appealing to more Hillsdale College students, management at Broad Street did away with weekly jazz performances in The Underground, and replaced it with college night in September 2015.
Broad Street also worked to revamp its menu. The management added fresh sushi to its offerings in January 2016, prepared by a cook who was trained by Iron Chef Masaharu Morimoto.
According to Walters, these various side projects throughout the years is a part of what led to shutting their doors for good.
“They struggled to find their place in the community,” Walters said. “They attempted to do too many things that it distracted them from being good at one thing.”
Hillsdale College’s Student Activities Board used Broad Street for the majority of its events including as recently as last week for a student karaoke event. Senior Bridget Delapp, media officer for the Student Activities Board, said Broad Street’s sudden closure put a dent in the SAB schedule.
“We planned on having a couple more events there such as Air Band and perhaps another karaoke,” Delapp said. “It’s a bummer we can’t use it, but we’ll plan around it.”
Students have expressed mixed feelings about Broad Street’s closure.
Senior Jada Bissett said she’ll miss the unique feel of the tavern.
“I am extremely sad to see Broad Street close,” Bissett said. “It was the ideal combination of high quality food at an affordable price in a clean and enjoyable atmosphere.”
Many other students agreed and said that while they’ll miss its presence in town, they did notice a decline in the service recently.
“I went there more often in its earlier days,” senior Paul Mittermeier said. “I sort of noticed the establishment was declining, so I stopped going as much. I’m a little upset there are less options. I find it appropriate that they closed though. It’s a shame, but it makes sense.”
Broad Street County Delinquent Tax Notice by The Journalist Guy on Scribd