Marea is one of a surprising number of high-end restaurants set to open this year. Their timing may be inopportune, but with leases signed and construction underway before the economy took its nose dive, the restaurateurs had little choice but to forge ahead. Some, like Mr. Cannon and Mr. White, have sought to pare their rent while maintaining their original vision. Others have cut prices or added new dishes to appeal to a wider array of patrons. Everywhere, there is anxiety, as owners learn to adapt to the new austerity.
The downturn has had benefits: Mr. Cannon said that some suppliers and contractors had shaved their fees, saving the restaurant about 30 percent on construction materials and labor. (They plowed those savings back into refined touches like hand-polished lacquer radiator covers.) The two also went back to their landlord three months ago to renegotiate their rent. The landlord agreed to defer a portion of the rent for two years, at which point, Mr. Cannon hopes, the economy will have rebounded.
The downturn has had benefits: Mr. Cannon said that some suppliers and contractors had shaved their fees, saving the restaurant about 30 percent on construction materials and labor. (They plowed those savings back into refined touches like hand-polished lacquer radiator covers.) The two also went back to their landlord three months ago to renegotiate their rent. The landlord agreed to defer a portion of the rent for two years, at which point, Mr. Cannon hopes, the economy will have rebounded.
There is opportunity for those with the courage to seize the day!
