Spur property sold to developer
The Silver Spur, a favourite bar of many local residents and students, closed as of May 4. The property has been sold to developer and current owner of the neighbouring Waterloo Stage Theatre, Jeff Zavitz.
The Spur celebrated its thirteenth anniversary on the weekend prior to its closure. Offering karaoke, food and patio seating facing King Street, the business had been very successful.
In buying the Spur, Zavitz hoped that the previous owner, Tom Ferguson, would maintain the establishment for a few more years.
“When we originally bought it, I thought that the owner of the Spur would keep renting it back for a while. It was only to the very end of our negotiation that he decided to close,” explained Zavitz.
Future projects for the establishment are still undefined.
“Honestly at this point we haven’t even started planning,” said Zavitz. “Any redevelopment will be a couple of years before it happens.”
The current building is in need of some renovations which, depending on new projects, could become quite extensive.
“We’re certainly open to someone coming in with a proposal that requires major changes,” said Zavitz in addressing the possibility of new tenants.
To date, Zavitz has only spoken with interested parties in an informal setting and has yet to receive any offers.
Since the Spur closed, surrounding businesses vary in their expression of any changes in the volume of business they’ve received.
Both the Fox and Fiddle and Failte have reported no change in the number of customers coming in.
“Business as usual,” said April Bezpaly, a server at Failte.
On the other hand, Shannon Slusei, a server at Ethel’s, noted that there has been an increase in customers in the week following the Spur’s closure. Slusei commented that the new crowd has been primarily interested in their patio.
With the majority of students having left Waterloo for the summer, their impact on business for Uptown bars won’t be noticed until the fall.
“Wait until September rolls around,” said Bob Leis, manager of the Fox and Fiddle.
Zavitz is still exploring the many possibilities in the long-term plan for the Spur and the Waterloo Stage Theatre.
“It could be multiple buildings, it could be one building, it could be expanding the theatre; anything is on the table at this point.”