Jacques Klempf, Chad Munsey and Fraser Burns, partners in the Ovinte wine, cocktails and tapas lounge at the St. Johns Town Center, have been identified as the purchasing group under contract for the Bostwick Building.
Building representative Karl Bostwick announced Friday the historic building Downtown at Bay and Ocean streets was under contract, but did not identify the potential buyer. The Bostwick family has owned the building since 1902.
It has been closed and vacant for some time and faced demolition.
The partners attended the City Council Land Use & Zoning Committee on Tuesday. Klempf and GrayRobinson attorney Terry Moore spoke at the public hearing on two pieces of legislation.
Klempf said the group was "aggressively moving forward" in addressing its side of contract-related conditions and has engaged an architect and other professionals to assess the building.
The due diligence portion of the contract ends June 14. The committee continued the legislative issues until June.
The buyers said they haven't developed a concept for the building, other than it will be restaurant.
"We just think it's a great venue and it just has great access, visibility and we feel like we can put a concept there that will really be great for the city," Klempf said.
Munsey said the concept will not be the same concept as Ovinte.
"We're going to restore the building … and put what I think is going to be the nicest restaurant in the city," Klempf said.
He said the group wanted to restore the building to its natural façade. Burns said the partners wanted to "do something really special."
"Whether or not that's 50 seats or 150 seats, we have no idea. We won't know until we really get in there," Burns said.
The group declined to discuss financials of the contract.
Val Bostwick, Johnson Enterprises Inc. senior sales associate, who has handled the building's marketing, also declined comment.
Klempf said the largest hurdle would be the due diligence period.
Moore told the committee the group has hired an architect and structural engineer to assess the building and will hire a water intrusion specialist.
"We need some time to assess this building," Moore told the committee.
Klempf said after the meeting that a lawsuit filed on behalf of a Bostwick Building neighbor regarding water damage intrusion must be addressed by the Bostwicks before the deal is complete.
Known as the "jaguar building" for its window murals, Klempf said the features will not be a part of the building under its ownership. He said the Bostwicks will take them.
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