Bottom of The Well
Bottom of The Well
The "why" behind prominent food hall's sudden shutdown; El Taco Rey revived as The Rey food cart; South Park Brewing opens; a Springs chef heads to Chopped + more food & drink news
I’m biking downtown to meet Justin Anderson, consulting partner at The Well on Wednesday afternoon and I pass by the Fiona Apartments at Pikes Peak and Wahsatch avenues. I observe a team of workers in yellow safety vests hand-washing a bank of ground-floor windows, readying the long-delayed development for its imminent opening. I can’t help but think of the irony.
They’re literally polishing the glass before service, about to bring 300-plus units online for residential living — the mythic foot traffic that nearby restaurateurs especially have been desperately holding out for — and The Well is calling it quits a block away. Bobby Couch at the Green Line Grill has held on. Brother Luck has reinvested in his space by partnering in Eleven18. Provision Bread & Bakery has sprouted at an opportune time. And The Well’s about to give last call on Friday night. Timing is everything, and the The Well is out of time.
Stop the bleeding
What you probably know by now is from the press release put out by The 315 Collective team, “a group of five (5) like-minded Philanthropic Foundations,” who created the The Well. Their key message was: “The ownership group has come to the realization that it is no longer viable to be Owners/Operators of a restaurant business” and opting to close was “influenced by the need to ensure our operations are meaningful and sustainable.”
The five being referenced are: the John & Margot Lane Foundation, Joseph Henry Edmondson Foundation, Pikes Peak Community Foundation, Pikes Peak Real Estate Foundation, and Bloom, a Loo Family Foundation. As a group, they brought on Anderson to operate the food hall. It bears mention that they also initially onboarded Russ Ware, who disgraced the enterprise by siphoning money out of it to float short-lived Epiphany. (I would link to my own reporting, by the Indy archives remain inaccessible, so you get the Gazette.)
On Wednesday morning I called Susan Pattee for comment. She’s a Bloom Foundation trustee and acting in this case as a spokesperson for The 315 Collective. My first question: Why the suddenness?
Her reply was that it wasn’t actually sudden for the Collective. “For a long time, our whole history really, we’ve been trying to figure out how to make this financially viable,” she says. “We’ve been trying to get it to break even… If it were net neutral we’d be totally fine with that… It doesn’t have to be profitable, just viable… But it’s been losing money since its inception.”
I ask how much, and she says “it was significant.” She went on to say “as stewards of philanthropic dollars we’re accountable to our missions to take care of these nonprofits and the community. This was an experiment we were excited about, and wanted to see thrive. Unfortunately this iteration did not work out. We learned a lot. And hopefully we’ll grow to do something that continues our desire to bring a great space to the community.”
She proffers some explanations as to why she thinks The Well hasn’t financially worked. “We’re probably a bit ahead of our time. We opened during Covid. [Work on the project began in 2020, but the hall didn’t start serving until April, 2022.] There were a lot factors against having financial success in this location because we’re off the beaten path. The apartments kept getting delayed in their openings, so all the critical masses of foot traffic we thought we’d have over this period of time hasn’t come to play out.”
Pattee maintains her belief in their mission, credits Anderson for what they felt was indeed unparalleled hospitality at the hall, and says the Collective is optimistic about eventually getting something else back up and running in the space after they take stock and evaluate options. She restates how much they wished The Well had been successful and how they’d tried to work something out to make it so, but “sometimes in business you have a lot of things you want and just can’t get it to work.”
Ahead of its time?
I lock up my bike and grab a drink from Gift Horse Bar & Cafe, chatting up badass barista Joe Slivik about his plans for what’s next in his life. (Uncertain at that time.) He tells me they’ve been slammed with business throughout the day from people here to show support. Doreen Lim, wife of Formosa Bites owner/chef Terry Lim, comes over and we hug, sandwiching the toddler clung to her hip, who tolerates the invasion well. I’ve stayed in regular touch with their family, as they appointed me a guì rén (a helpful person at a pivotal moment) in my unofficial role as a community connector by way of my work (and giving a shit). I’d put them in touch with Justin Anderson after they’d been struggling for months awaiting their food truck repair the year before last, and were seeking other options for Formosa.
Formosa Bites occupied a vendor space last year and renewed their contract for 2024. Then, they announced last month — totally separate and ahead of this decision by the Collective to close The Well — that they would cease operations June 16, citing “high operating costs and lower than projected sales.” (Turns out they’ll shutter on the 15th with everyone else, staying open as the last vendor, until 9:30 p.m., I’m told. The bar will stay open “late” and Anderson is planning for two food trucks to serve after La’au’s and Weber Street Kitchen close at 3 p.m.) So, as it was for the Collective, The Well wasn’t working out how Formosa Bites had envisioned it, either.
I finally make it out to the patio to sit down with Anderson, and he first re-emphasizes what Pattee had conjectured about their location being the key challenge all along, with the delayed residential units nearby and being two blocks off the main Tejon Street strip, where all the action currently is. Due to the challenge of drawing eaters and drinkers away from that, he feels, “we had to be perfect, every day, with no room for error.” The way he sees it, The Well “had to do the extra steps you may not have to do in a more dense part of downtown. We’re an island.” Hence the outfit’s obsession on great hospitality. Anderson lead his team to talking about “work for, versus working with each other,” saying “this is hands down the best team of people I’ve worked for.”
Then we get to talking about the model itself. “Was it a perfect model? Absolutely not,” he says. “We’ve changed how we’ve operated over the years. The first year was almost all startups, seeking proof of concept. The second year brought in Shovel Ready, which we see as a huge success. We had some wins, but the losses outweigh them.”
He went over factors that he wanted to make sure I understood were not reasons the financials weren’t working. He said they didn’t run overtime and overwork managers (other than him doing that to himself), and he refused to cut corners to try and save on labor costs, citing a people-first mentality. What he couldn’t control by way of line items at day’s end, though, was how the vendors operated their own businesses and books. He didn’t single anyone out or provide a specific example, so I take it to mean if someone’s margins were off — their own labor and food costs compared to what they’re providing and charging — he was limited in how far he could intervene.
When it comes to the numbers, he says they’ve crunched it to believe that The Well needed 60 to 65 more customers passing through each day to have broken even for the Collective’s purposes. That number may not sound high, but in the restaurant industry it’s a lot for the majority of establishments out there. Anderson echoes the “ahead of our time” sentiment for the philanthropic-supported model itself, saying that here in year three he feels they were operating under the “best iteration of the model yet.”
“I’ve opened a number of places in other cities. I’ve been in the industry 25 years,” he says. “I’m confident in what we’ve done here. We could have made some better decisions on things, but you live and learn… My only regret is the abruptness of the closure. I believe we could have made it work in this most current form since we brought in a restaurant group to anchor us.”
Extremely disappointed
If anyone’s a contender for the “Most Upset” award regarding The Well’s sudden closure, it appears to be the restaurant group Anderson’s referencing: The Blue Star Group. (Disclosure: They are a Side Dish Dozen member, meaning they co-sponsor this newsletter. I will largely utilize the public statement they have provided in this section so as not to invite any perception of bias.)
Blue Star Group (BSG) opted to revive La’au’s Taco Shop at The Well three months ago and launch a new concept named Weber Street Kitchen at the food hall. (Which only makes sense as a brand if you’re located on Weber Street, as The Well is.) In terms of marketing expense in the new venture, they went on to sign up for La’au’s to be “The Official Taco Shop of the Colorado Springs Switchbacks.” (La’au’s as a concept will move to catering only for now, as BSG seeks a new location to once again revive it in brick-and-mortar.) Obviously money went into several other aspects of creating Weber Street Kitchen, from the foundational creative expenses to menu creation and staff training, etc. All of which is to say they made a longer-term investment by opting to partner up with The Well.
A BSG spokesperson tells me they were as surprised as anyone else by the Collective’s announcement to close. In mid May they’d been asked for ideas for what to do with The Well moving forward, with a 10-day window to create a plan. (I’m told it was a limited RFP process not disseminated widely in the community.) They submitted a proposal on May 23 and heard back on May 28 that it had been rejected, without detail as to why, they say, adding it wasn’t clear to them at the time that it was a do-or-die scenario — that they assumed things would resume as-is at the food hall otherwise.
I attempted to reach Pattee again to ask about all of this, the day after I initially spoke to her and before I’d learned of that detail. I did not receive a returned call throughout the day and before publishing time. She was quoted in the Indy on Wednesday as saying: “We proposed staying open through June 30, but Blue Star Group did not want to do that. We said we can’t stay open losing two of our stalls, so we came to a compromise of this Friday.”
Here’s what BSG wrote in their press release, regarding the closure as a whole:
Blue Star Group was notified on Monday that The Well would be permanently closing effective this Saturday, June 15. We were extremely disappointed in the decision after the investment we made to have La'au's and Weber St. Kitchen open for only three short months. We looked at The Well as a long term investment and partnership, and are sad to see what was on its way to being a well-loved and attended Colorado Springs community gathering place closing its doors so abruptly.
Blue Star Group was invited into The Well in February, 2024, to bring two desirable food concepts, as well as experience and expertise in running a food hall (Ivywild School) to help improve operations and profitability…
“We looked at the opportunity as a win-win, as we shared a fundamental vision with The Well, centered around fostering and nurturing community in diverse ways,” said Joseph Coleman, owner of Blue Star Group. “We want to continue to see this vision flourish in Colorado Springs, and saw The Well as a place that embraced this.”
Unfortunately the financial model that was in place at The Well was not viable, and Blue Star Group's scrutiny on, and challenge of that model and its management was not acknowledged nor accepted. Ultimately, the values of the two groups did not align and the prospect of Blue Star Group taking over operations at The Well was thwarted.
Community reaction
Since I posted about The Well’s closure on Tuesday morning, industry folks and many others have reached out. I’ve had several informal chats, in-person and online, and conducted half a dozen formal interviews. Emotions are high for all stakeholders in the matter, including loyal patrons and people elsewhere in the community who’re on edge about what I’ve reported as a spate of recent closures in town, which includes breweries and businesses in multiple areas of the city, not just downtown.
I’ve also noticed strong online responses. I care not to scrape individual comments, but the general sentiment is a lot of folks will miss The Well’s offerings and warm community space, and the ire seems mostly directed at the Collective’s decision to close, especially so suddenly. Everyone just wants to know the why behind it all. And now you know: The Collective and The Well addressed that head on and pointed to the money, or lack thereof.
But outspoken food activist Mike Callicrate of Ranch Foods Direct doesn’t find that palatable. “Man, the foundations really sold out our community interest here,” he says, calling me out of the blue on Thursday morning to talk about his interview the day prior with a local TV news station regarding these recent food and drink business closures. (Disclosure: RFD is the lead sponsor of this newsletter, and Shovel Ready purchased meat from RFD last year at The Well). “The foundations’ expectations were unrealistic. The fact that they wanted The Well to support them, when they ought to support The Well — to close The Well was just wrong.”
Callicrate is a big believer in the power of co-location and the synergy between independent businesses, especially in maker-owned spaces. He cites his own relationship, hosting El Chapin food trucks on-site rent-free, as they attract retail market shoppers and purchase his sustainably raised beef and pork products. But there’s a key factor to viability as he sees it: being owner-operated and not subject to the will or whim of outside financiers.
The first irony I mentioned was the timing of the nearby apartment complex finally opening just as The Well is closing. The second, and ultimate irony, is that a collective that was formed to to serve the community in various ways has just pulled the plug on a making of its own creation, a group of workers and businesses with livelihoods at stake, who are part of the fabric of that same community.
I call Anderson at the end of shift on June 13, and he tells me the community response to the closure has been overwhelming: “Today was the busiest day we’ve ever had.”
Return of the King
“I think mom and dad would be proud.”
That’s Jana Aguilar Mitchell, speaking on the revival of her parents’ legacy business, El Taco Rey, in the form of imminently launching food cart The Rey.
El Taco Rey was a downtown staple for 45 years, closing in late 2021 after the passing of family matriarch Rosemary Aguilar. Her husband and Jana’s father Edumenio (who went by “Eddie”), passed away a few years prior. Jana and her twin sister Judy Aguilar Allen had worked at their parents shop for 37 years, even weathering the early difficulties of the pandemic.
But when their mom was gone, they opted to prioritize family matters, telling the Gazette at the time that financial matters did not factor into the closure. They sold the building at 330 E. Colorado Ave. (now Hawaiian outfit Roots Cafe) and an adjacent parking lot and eventually ended up taking jobs at the Olympic Training Center doing housekeeping.
“We needed to pay bills and we were thankful for the jobs. We met a lot of awesome athletes, but that wasn’t our calling,” says Jana. “All we know is the restaurant business. This is our calling, and we love it. Our passion is feeding people… We finally decided if we’re gonna do it, let’s do it.”
I ask why not go back into brick-and-mortar and she says they felt it was a bigger responsibility to be tied to a building, and they view a mobile trailer as more flexible. They’re aiming to serve widely across town to cater to longtime fans living all over the Springs. Since initially posting on social media in late May to announce themselves, they’ve been inundated with requests from places wanting them to come serve. They aim to hit the road five days a week initially. Everything’s ready to go, says Jana; they’re just awaiting a Health Department inspection that’s already been delayed a couple weeks.
Regarding The Rey’s menu, most importantly: Yes these are the same, beloved family recipes they’ll be utilizing so you can once again get your favorite item. Smothered avocado-pork burrito? Yes and please, thank you.
The sisters have paired down the former menu’s combination plates (once at nine, now at four available). Jana calls it “the whole menu, condensed.” The only two à la carte items will be hand-held or smothered burritos. Among the four dinner plate options, guests will be able to pick between paired items served with rice and beans: enchiladas, tacos, tostadas, tamales and burrito options (bean, beef and bean, chicken and bean or avocado pork). For sides, expect chips and salsa, guacamole and guacamole salad, and green chile nachos. They’ll serve coconut tres leches cake, too.
“The best cut of beef there is”
“The thick cut bone-in ribeye steak known as a tomahawk, or cowboy steak, is really just about the best cut of beef there is,” writes Chef Jason Miller in his Season Two Taste blog post that shares his recipe for the “perfect reverse seared tomahawk ribeye steak.” Click that link to learn three aspects of a tomahawk steak cut that make it unique, including how it’s “cut from only the highest quality loins available, and then also from the center of those pieces, making them the ‘best of the best.’” Ranch Foods Direct sells tomahawk steaks at both retail locations’ fresh butcher counter. It’s our featured steak of the month, in collaboration with Season Two Taste. You can sign up for their newsletter free on their website, to find loads more recipes (some of which will surely send you back to Ranch Foods Direct shopping for ingredients).
Guest contribution: South Park Brewing opens
You can take the girl out of the industry but… When I saw the Facebook post announcing South Park Brewing’s soft opening last weekend (in the former Smiling Toad Brewery at 2028 Sheldon Ave.), I immediately rallied some friends to go check them out. Saturday found the taproom and patio full of locals welcoming a brewery back to the block. Their NEIPA Mad Juicy IPA was the favorite at our table, and the hot day made their Cherry Blonde super refreshing (and it is so pretty). And surprise, they distill in Fairplay, so they have their own spirits: “Distill My Heart” vodka, whiskey and gin on the menu. The brewery also has its own food truck, currently serving smash burgers and chicken sandwiches, with promises of menu expansion in the coming weeks. Check out the new kids on the block daily from noon to 8 p.m. And because I know you’ll ask: only service dogs allowed. — Carrie Simison
*In case you didn’t know, Carrie and I worked together at the original CS Indy for around 15 years. She’s now Director of Marketing & Communications for Downtown Colorado Springs. She and DCS are supporters of Side Dish (both advertising in this newsletter and sponsoring Tap&Table episodes). Carrie also supports the food and drink industry personally via her Instagram efforts, Bloodies & Brunch and hotchiccoldbeer. Follow her if you like dogs, bikes, beers and knowing where to find a good Bloody Mary around town. And join us both at Bristol Brewing’s 30th anniversary party July 15 from 4-5 p.m.; we’re guest beertending together.
Bites and Bits
• Related to our lead topic of restaurant closures: Heirloom Bar & Grill announced Monday they’d be closing their recently opened brick-and-mortar and returning to where their business started: Scratch Mobile Kitchen. Back in January, I’d stopped by Heirloom to sample and meet owners Jillian and Bryan Lovelace. I reached out to Jillian for comment this week and she elaborated on her post: “We tried our very best and made every adjustment we could think of — I even went around the area with flyers — but when you're not breaking even and your rent goes up, it's just a losing battle. The truck opened back up in the spring, and now that we'll solely be running the truck again. I'm working to get our schedule filled in like it was previously.”
• Also related to our lead topic of restaurant closures (yeah, dark, I know): Hibachi chef Michael Sodusta posted that Musashi Japanese Restaurant will close at month’s end. He wrote: “The restaurant has been open for 37 years and a local town favorite for many… for those who might not have heard this news or said to themselves, ‘…I’ll go someday.’ That someday is drawing closer if you ever wanted to go. Please join us for our final days if you can. The restaurant was home to many career chefs, career waitresses, mothers, fathers, sons, daughters, brothers, sisters, and even new faces that consider these walls and cooking tables their second home. We appreciate the opportunity to have served Colorado Springs in our unique way. Thank you.”
• In response to these recent closure announcements and community concern, co-owner of The Local Motive Johnny Joy reached out to Side Dish to say he’s going to launch a “Save Our Local Joints” tour soon, consisting of two buses “criss crossing the city getting people in the doors of these places.”
• Tune into the Food Network show Chopped at 6 p.m., June 25 to catch Four by Brother Luck chef de cuisine Ashley Brown in action. She of course is embargoed on saying much about her appearance, so enjoy the stoic (but proud) face below for now.
• Chef Jeremy Gomez has departed his position as Chef Tournant at Cripple Creek’s opulent Chamonix Casino Hotel. I had just written about him and the complex in April when I sampled the newly opened 980 Prime steakhouse with him. Gomez tells me he’s taken the Assistant GM role at Trainwreck. “I’m just honored to be a part of something that is quite unique and electric,” he says. “I have learned so much on my culinary journey and it’s exciting to bring that tasty knowledge to their tables.”
• Two weeks ago in this newsletter I wrote about the plans for Nouveau Dining, a unique new pop-up concept, coming soon. One of the chefs involved in the outfit is Stephen Waun, who’s most recently been posted at Wobbly Olive. Disturbingly, this past Sunday night, he was the victim of a random, violent attack, and his friends are asking for support for his hospital bills and recovery, here. In order to confirm what details I could, I reached out to Ira Cronin, PIO for the Colorado Springs Police Department. Cronin said: “I can confirm for you that CSPD did receive a call for service on the evening of June 9, at 9:12 PM, of a stabbing in front of 28 N. Tejon Street. [That’s Gasoline Alley.] The suspect reportedly fled on foot. I can also tell you we are early in our investigation, and we are developing all possible suspect leads and other information.”
Side Dish Dozen happenings
• Bristol Brewing Company: Help us celebrate three decades of Bristol Brewing at our 30th Anniversary Bash, Saturday, June 15, noon to 5 p.m. Enjoy three limited edition anniversary beer releases, live music from the SofaKillers, guest beertenders (including Schnip and Carrie Simison!), smoked turkey legs from Spark, tie dye, anniversary merch and games for prizes.
• Blue Star Group: If you’re mourning the loss of The Well, come to Ivywild to enjoy some of the Weber St. flavors at its sister restaurant, Ivywild Kitchen, and exceptional craft cocktails at Principal’s Office. Tell us where you’d like to see La'au's Taco Shop return at location@laaustacoshop.com. Visit La’au’s Taco Shop online meanwhile for catering requests.
• T-Byrd’s Tacos & Tequila: Join us for our June 19 Suerte Tequila tasting series event at 6 p.m. $25 gets you a 1-ounce pour from three tequila varietals plus snack bites from Chef Dustin Archuleta.
• The French Kitchen: We’re celebrating National Chocolate Éclair Day on Thursday, June 22nd, with a buy-3-get-1-free box of four; order ahead, here. Slots are still available for our June 18 Italian cooking class, 9 a.m. to noon; you’ll learn to make tiramisu from scratch, starting with the ladyfingers. Come in for our limited-time-special French hot dog, which will be part of the special Snack with Schnip menu at our party from 1-3 p.m., Saturday, June 15.
• Red Gravy: Come for our awesome lunch deal: the $14.99 Red Gravy Mix, where you choose a soup or salad and any half portion of pasta.
• Allusion Speakeasy: Our latest theme, Bario World (a play of Mario Bros., if that wasn’t clear) is open at our downtown location and Powers Boulevard location.
• Rasta Pasta: Proudly serving five local beers on tap. We always carry Bristol's Beehive and Laughing Lab and Goat Patch Hazy IPA and Blond, and a rotating tap.
• The Carter Payne: On draft right now: Galaxy hop water; Skittles fruit punch sour; mustard saison and a grapefruit pale ale, plus 14 more tap selections. Book our banquet spaces for all occasions.
• Kangaroo Coffee: We’re excited about our Trinidad Summer Celebration happening this Saturday at the Marketplace! We have Rosin and Rust showcasing their amazing talents, our friends from the Trinidad Tea Company sharing their story and wonderful products and Trinidad & Las Animas Chamber of Commerce conducting the ribbon cutting for us. And then we head back to the Springs in time for Switchbacks Soccer!
• Edelweiss: Catch specialty desserts for Father’s Day weekend, running June 14 through 17: opera torte, raspberry mousse bomb and a key lime tart. Also we’ve got Stiegl Radler on draft this week.
• Odyssey Gastropub: Join us for our Service Industry Tuesdays and enjoy happy hour pricing all day for industry folks. Get the $15 OG Combo — a cheeseburger, fries, draft beer, and a well shot.
• Ascent Beverage: Head to The Carter Payne for their Old Fashioned made with Arcola Distillery Irish-style whiskey, pot stilled with a nice, smooth sweetness. Our favorite pairing: their gorgeous charcuterie board.
• Goat Patch Brewing: Summer Music Series with Chauncy Crandall, June 16, 6-8 p.m. Bleating Heart Night, June 18, 5-9 p.m.; $1 from each pint sold benefits Catamount Institute. Trivia, June 19, 6:30-8:30 p.m.
• Four by Brother Luck: Catch our daily happy hours from 3-6 p.m., Sunday-Thursday, and 3-5 p.m., Friday-Saturday.
Upcoming events
• June 15: Snack with Schnip at The French Kitchen, 1-3 p.m. Enjoy free, interactive cooking demos and free samples. TFK will feature a one-day-only Side Dish menu special consisting of their famed French hotdog (vegan and vegetarian options available); a Bebolo signature sparkling water drink (choice of Routin French 1883 syrup flavor); and one dessert item from the pastry case. The bundled price will be $17.49 — 25% off regular retail rate. Each purchase of the Side Dish special comes with a limited-time coupon code for 10% off anything in the retail market.
• June 20: Western Street Breakfast & Range Ride downtown, 5:30 a.m.
• June 27: Moonlight on the Mountain at Cheyenne Mountain Zoo. 6-10 p.m.; $79.75-$119.75. Includes all-inclusive food and drink samplings, live music, SkyRides ($5 extra) and of course, giraffe feeding. (21 and-up.)
• June 29: 10 Year Anniversary Celebration at FH Beerworks. Noon to 10 p.m.
• June 29: Revel ReMix: AdAmAn Alley Dance Party: By way of eats, look for grab-and-go items from Red Gravy (toasted ravioli) Jack Quinn’s (steak & mushroom hand pies) and CO Craft (mac & cheese).
• [Early notice] July 13: Banning Lewis Ranch Brewfest. Noon to 4 p.m. in Vista Park.
Parting shot(s)
I enjoyed the Feast of Saint Arnold beer festival this past weekend. That’s pretty much the whole story. Congrats to the winning breweries in this year’s Best Beer competition: 1st place Pikes Peak Brewing for their Italian Pilsner. 2nd place Colorado Mountain Brewery for their Doppelbock. 3rd place Manitou Brewing for their Apricot Allusion. Cheers to all!
