On the Rise!
There are some exciting new businesses coming to Pompano Beach! One of the newest on the rise is The Vault in Old Town. The under-construction restaurant and bar owned by Jessica Spill-Chaples will be occupying the old bank building at 61 NE 1st Street, and the design will play into that theme with a super cool 1920s speak-easy style. The venue will display the original bank vault and will be decorated with murals that depict the era and the infamous Ashley Gang, who robbed the bank in 1924. Establishing new businesses in Old Town is part of the economic development plan for the area, and The Vault is benefitting from the Pompano Beach CRA’s Strategic Investment Program, which is available for site, building and tenant improvements for existing commercial buildings for restaurant or retail uses. The improvements proposed under the Strategic Investment Program (SIP) application are for interior buildout which include electrical, plumbing, structural, drywall, drop ceiling, painting, HVAC, kitchen buildout and bathrooms, and other similar items. The Vault received funding from the program which will support their build-out.
The Vault also applied for and received funding from the Façade and Business Site Improvement Program offered through the CRA. This program is available for exterior aesthetic building improvements including windows, doors, painting, etc. for existing commercial buildings with restaurant or retail uses. The Vault will use this funding towards the cost for the façade improvements.
“The SIP program and the Façade & Business Site Improvement Program have been a very successful incentives for new businesses to invest in Pompano Beach’s emerging neighborhoods,” said Nguyen Tran, Pompano Beach CRA Director. “While the business owner is responsible for the majority of the site’s buildout, our support is often a deciding factor in the investor’s decision to choose our developing area over another more established neighborhood. We are excited to see the incredible build out for The Vault, and we look forward to announcing an opening date for patrons to come enjoy the venue and our growing Arts and Entertainment District.”
