It is with heavy hearts that we have to tell you that we have decided to close Primizie Osteria for business. Although the down economy has not done us any favors, the main reason for our decision is that our landlord, Austin Revitalization Authority, refused to renegotiate the terms of our lease to make them more aligned with industry averages, the location and the density of the area. All of our decisions and projections for the restaurant were based on four multi-use developments which were to have been completed on the 11th/12thstreet corridors. As you probably know from the countless articles on the development of this area, the City of Austin and the Austin Revitalization Authority have failed to deliver on all accounts. We do not foresee any of these projects coming on line within the next 5 years to increase the density of the area to the degree that was projected. Since the fixed costs associated with that space were not going to allow us to reach the profit levels we needed we felt the smartest business move was to close the location.
As you can imagine this was a very difficult decision to make but definitely the right one. Primizie Catering, which was started over 9 years ago, remains stable and profitable so that is where we will put our attentions. So if you are a past or present client you can still expect the same service, food quality and ability to produce amazing events that we have built our reputation on. We are very proud of what we created with Primizie Osteria and feel Austin has lost a true gem. We currently do not have plans to relocate the restaurant but hopefully you will see us again in another incarnation of Primizie soon. We want to thank you for all the support you have given us over the years. Feel free to contact us with any concerns or questions.