Buyer of ex-T.C.'s Speakeasy plans new bar/restaurant in downtown Ypsilanti
The Bank of Ann Arbor foreclosed on the former T.C.'s Speakeasy, taking it over in January 2009 and listing it for sale.
City of Ypsilanti website
The former T.C.’s Speakeasy in downtown Ypsilanti will get a new life in 2011 as a restored restaurant featuring red brick walls, slow-cooked BBQ and live music.
New owners closed on a deal Monday to buy the property out of foreclosure, an effort that took about 20 months from the time they sought to buy the building.
“It’s good to finally get in here,” said new co-owner Shawn Cool, “… and get working.”
Now he plans to convert the longtime downtown bar at 207-209 W. Michigan Ave. into the Red Rock Downtown Barbecue.
The work will include gutting the interior, then establishing a restaurant that features live music at night.
Cool, along with his parents, John and Nancy of Canton Township, bought the property under the name Cool Restaurant Group LLC.
Closing the deal on Monday ended a long process that started in 2008 when the lender began foreclosure proceedings against the previous owner.
The Bank of Ann Arbor took the property back in January 2009, according to city records. At that time, the outstanding loan to The Block Group LLC, based in St. Joseph, was $200,000.
Hamilton listed the buildings in 2009, eventually dropping the asking price to $190,000, and Cool emerged as a buyer.
However, working through details — including buying the foreclosure and arranging a construction loan — took much longer than he’d anticipated.
He obtained a downtown redevelopment liquor license for the property in June, but finalizing the purchase details for the property took several more months, Cool said.
That’s behind them now that they’re in the building and starting the work. On their first day of ownership, they tore down a large wooden soffit above the bar. It’s the first step toward taking the interior down to the bricks walls.
“Hopefully we can have a quick remodel and open the business soon,” Cool said.
Cool is hoping to have the building work done by February, so he can have the restaurant open by St. Patrick’s Day.
Cool said he’ll do a lot of the work himself, based on designs by Ypsilanti-based architect Donald MacMullan.
The upper level of the building has three apartments that eventually could be restored into rentals, said David Hamilton of Swisher Commercial in Ann Arbor, who brokered the deal.
Hamilton said the Red Rock will fit in well with downtown Ypsilanti’s bar and restaurant scene.
“I think downtown Ypsilanti is on a nice rise,” Hamilton said. “We’re seeing improvements, and we're not seeing any backsliding, even in the economy. “
Buying the building has been a long-time goal for Cool, who said he “has worked in restaurants my whole life.”
John Cool, meanwhile, is retired from the food industry, where he worked in research and development.
“We’ll combine (our skills) and hopefully come up with a good product,” Shawn Cool said.
The menu will feature slow-cooked meats, like pulled pork and chicken made on a rotisserie smoker. Products on the food and bar menus will be Michigan-themed.
And the music will be a broad range of styles, Cool said.
The family had looked in the Plymouth-Canton area, too, but wanted a downtown location where they could own their own building.
That they ended up by a building once owned by a musician named Ty Cool — who is no relation — is “a strange coincidence,” Shawn said.
But the days of the many bands playing in the venue helped inspired the Red Rock name, he added.
Paula Gardner is Business News Director of AnnArbor.com. Contact her at 734-623-2586 or by email. Sign up for the weekly Business Review newsletter, distributed every Thursday, here.
Comments
MorningGirl
Thu, Nov 11, 2010 : 2:42 p.m.
The article said the new owners were no relation to Ty. And yes, the place on Michigan Ave in Detroit is Slows. Why correct someone who is right???
lisasimpson
Thu, Nov 11, 2010 : 12:09 a.m.
TC's was the bar that I fit into best. I still miss that place and it's vibe and it's open mic nights dearly. I hope the BBQ has some vegetarian options!! :)
Corby
Wed, Nov 10, 2010 : 12:22 a.m.
Great news. High hopes for great BBQs. Best of luck to the new owners. See you soon!
treetowncartel
Tue, Nov 9, 2010 : 9:13 p.m.
Hey JE, I know that, like I said before I was being a wise donkey when I posted that. BTW, for this place to be comparable to Slow's it would need a wait list at lunch during the week.
ypsigrl
Tue, Nov 9, 2010 : 8:01 p.m.
I used to work there and i am glad TC's is gone. while most of the employees i worked with were great people, the owner was an irresponsible,arrogant,immature man. not to mention all the drug activity that happened in there, especially in the basement.....
JE
Tue, Nov 9, 2010 : 5:33 p.m.
hey treetowncartel it's Slow's in Detroit. on MI Ave. Not Sloes. j
Tine
Tue, Nov 9, 2010 : 12:33 p.m.
This is great! Downtown Ypsi needs this...Ypsilanti needs to be movin and groovin with the local music scene any way it can. Once TC's closed, it seemed that some of the tradition that Ypsilanti held with local music, died as well. TC's was by far, the BEST place that I have ever worked. I also know a great local area music promoter...that is just waiting to get back in the game! :::)
treetowncartel
Tue, Nov 9, 2010 : 12:27 p.m.
@ Eric, no, not really, I was being facetious, it is an inside joke. I forgot I was outside here on Asquare.com. Wet BBQ means it comes in the sauce. Back in the 80's-90's Delong's, which is long gone, probably had the best wet ribs in town. they had a really good sauce. Also, if you like BBQ you would have liked the soul on a roll no doubt, it came with the sauce on it too. Mr. rib also had some good Catfish. If you like the dry stuff travel out to Royal oak and try out Lockhart's(sp).
oletroop
Tue, Nov 9, 2010 : 12:25 p.m.
Glad to see old TC's ready to reopen it looked kind of forlorn unoccupied. Back in the day, (1970's early 80's) it was busy every night. In the mid to late 70's Wednesday nites were legendary for all the cops in there partying. Be sure to keep the statue of the head that is tucked in the little alcove in the back room. The stories it could tell........... Best of luck to the new owner's
Eric
Tue, Nov 9, 2010 : 11:54 a.m.
@treetowncartel Really? You mean like a sloe gin fizz? That's not what their website says. And "wet" bbq just sounds like all kinds of wrong. http://slowsbarbq.com/
goingfast3579
Tue, Nov 9, 2010 : 11:49 a.m.
This sounds like good news. I was a customer and employee in the 90's during a layoff when it was Ty Cool's. This type of Menu sound's good making me hungry for some BBQ Rib's. Will they need worker's? Can't Wait.
treetowncartel
Tue, Nov 9, 2010 : 11:37 a.m.
FYI, it is Sloe's in Detroit and not Slow's. I hope this place offers dry rub and wet BBQ. The recent craze with dry rub is a bit much. I like to have the option of it coming out of the kitchen smothered in sauce. One nice item would be burnt ends, those are great. I can't help but give a shout out to the late great Jesse from Mr. Rib. His soul on a roll can not be touched. Good luck with the place. I will make a point of stopping in for sure.
Peter A Webb
Tue, Nov 9, 2010 : 9:47 a.m.
I can't wait to try the BBQ. Best of luck Mr. Cool.
Faith
Tue, Nov 9, 2010 : 9:41 a.m.
@ TopCat: We do have a great BBQ place, Smokehouse Blues on Washtenaw. I think that some of their meats are actually *better* than Slows. Not all, but some, especially the Beef Brisket. Regarding Red Rock, I think it's a great idea! I'll be looking forward to it's opening.
Top Cat
Tue, Nov 9, 2010 : 9:29 a.m.
It would be wonderful to have something as good as Slow's BBQ in Detroit near by.
Killroy
Tue, Nov 9, 2010 : 8:42 a.m.
Starbucks?
recordhound
Tue, Nov 9, 2010 : 8:22 a.m.
A great idea. Let's hope somebody doing food and live music FINALLY gets it right.
pvitaly
Tue, Nov 9, 2010 : 8:22 a.m.
Yessss, finally! TC's was a cool place to play/go for a show, but that has been LONG gone. I look forward to this business succeeding and maybe being more ethical than the TC's owner. He didn't even show up on the last night that TC's was open!
Davidian
Tue, Nov 9, 2010 : 8:14 a.m.
Kind of sad to see TC's go...
Woman in Ypsilanti
Tue, Nov 9, 2010 : 8:03 a.m.
Excellent!
dading dont delete me bro
Tue, Nov 9, 2010 : 6:44 a.m.
nice!
Ignatz
Tue, Nov 9, 2010 : 6:21 a.m.
This will be a great and welcome addition to Ypsi. Nothing like a place that plans BBQ as it's primary style.