Work expected to start soon on Plaza Towers restaurant, event center

The new owner of Plaza Towers said work is expected to start soon on a restaurant and event center at the iconic Springfield office building.

Springfield Property LLC owner and President Marco Denis, who purchased Plaza Towers in September 2020, detailed the plans this morning during Springfield Business Journal's 12 People You Need to Know interview series with Editorial Director Eric Olson.

In the interview livestreamed on Facebook, Denis said a meeting scheduled next week with project architect Esterly Schneider & Associates Inc. and general contractor Base Construction & Management LLC would determine the best time to start the project. Projecting a launch within the next two months, Denis said the restaurant and event center could be ready by early 2022.

"They want to put together a big team to make sure everything moves fast and safe," he said of Base Construction. "I feel very comfortable now where we will be able to start really, really soon."

Plans call for a first-floor restaurant space that would have direct access to an event center on a third-floor rooftop. Marco said those plans would least disrupt office tenants in Plaza Towers, as restaurant and event center customers would have access through a separate entrance and elevator.

"We don't want to make it uncomfortable for the tenants," Denis said.

Denis also is planning interior and exterior renovations to the building at the intersection of Glenstone Avenue and Sunshine Street. One aspect, updated digital signage topping the building, will cost more than $1 million alone, he said.

After buying the building last year, Denis said 16 tenants, including Elliott Lodging Ltd., have exited the property. A longtime real estate manager and developer, Denis said he expected turnover following the ownership change.

Denis said occupancy is currently around 50%, down from about 70% when he purchased the building. He said inquiries have come in for the space, though he expects a larger influx of new tenants when renovations to the building are complete.

Dennis last year bought the 10-story, 130,000-square-foot Plaza Towers, 35,000-square-foot Plaza Towers Center and Jimm’s Steakhouse and Pub building for $13.3 million from the family of longtime owner Errett Sechler Jr., who died in 2019 at age 98.