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Sad news about Alex's bar The Orbit Room


blueschica
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This is a post by Tim Notter, the co owner of Alex's bar The Orbit Room. It was a landmark to visit during Rush Cons and fan visits to Toronto. He doesn't really say what will happen going forward but it doesn't look good. :( Another Rush landmark gone?

 

 

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Edited by blueschica
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Same story all over. With the extended nature of this pandemic and the associated financial implications, many clubs and bars will not re-open.
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RIP, sounded like fun place, especially when Alex would pop in on occasion :(

 

Regarding concerts, my Sept 2020 Aerosmith tix were rescheduled to Sep 2021. And I don't believe the 2021 date will happen at this point. Not the best time to have to rely on touring or playing out...

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I hope it doesn't happen to The Rockpile, Phoenix, The Opera House, Velvet Underground and Lee's Palace...this is all greed from landlords. They want full rent being paid, otherwise they'll kick the tennants out. But hey, WHO will they rent the venues to? Who's going to open a new business under the current scenario?
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I hope it doesn't happen to The Rockpile, Phoenix, The Opera House, Velvet Underground and Lee's Palace...this is all greed from landlords. They want full rent being paid, otherwise they'll kick the tennants out. But hey, WHO will they rent the venues to? Who's going to open a new business under the current scenario?

 

The landlords have a mortgage to pay on their building as well as expenses of upkeep and property taxes to continue to pay. How about the greedy government demanding they still get their tax money on the building?

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I hope it doesn't happen to The Rockpile, Phoenix, The Opera House, Velvet Underground and Lee's Palace...this is all greed from landlords. They want full rent being paid, otherwise they'll kick the tennants out. But hey, WHO will they rent the venues to? Who's going to open a new business under the current scenario?

 

The landlords have a mortgage to pay on their building as well as expenses of upkeep and property taxes to continue to pay. How about the greedy government demanding they still get their tax money on the building?

But think of all the grandmas that will be saved by this closure.
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I hope it doesn't happen to The Rockpile, Phoenix, The Opera House, Velvet Underground and Lee's Palace...this is all greed from landlords. They want full rent being paid, otherwise they'll kick the tennants out. But hey, WHO will they rent the venues to? Who's going to open a new business under the current scenario?

 

The landlords have a mortgage to pay on their building as well as expenses of upkeep and property taxes to continue to pay. How about the greedy government demanding they still get their tax money on the building?

 

Ok, so they kick the Orbit Room out and who do they rent the property to? That doesn't solve their problems. I would suggest they negotiate and defer payments, instead of closing another place.

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I hope it doesn't happen to The Rockpile, Phoenix, The Opera House, Velvet Underground and Lee's Palace...this is all greed from landlords. They want full rent being paid, otherwise they'll kick the tennants out. But hey, WHO will they rent the venues to? Who's going to open a new business under the current scenario?

 

The landlords have a mortgage to pay on their building as well as expenses of upkeep and property taxes to continue to pay. How about the greedy government demanding they still get their tax money on the building?

 

Ok, so they kick the Orbit Room out and who do they rent the property to? That doesn't solve their problems. I would suggest they negotiate and defer payments, instead of closing another place.

Where do you get that the Orbit Room even has a landlord? Not saying they do or don't, but I see nothing in the initial post referring to a landlord "kicking them out".

 

It makes much better business sense to own your own location, not rely on a landlord.

 

But if it is indeed a landlord, why should that business owner have to subsidize another business owner? If it is their building/location then they can do as they wish as long as they honor the contract in place. You don't want a landlord? Then get a loan and buy the property yourself.

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RIP, sounded like fun place, especially when Alex would pop in on occasion :(

 

Regarding concerts, my Sept 2020 Aerosmith tix were rescheduled to Sep 2021. And I don't believe the 2021 date will happen at this point. Not the best time to have to rely on touring or playing out...

 

Except Aerosmith will be fine. The bigger acts that have been heading arenas and stadiums for years probably have very little to worry about financially. It's the artists that regular play the smaller and mid level venues that are in trouble. More than likely those larger venues will still be in business a year from now. We can't say the same thing about the smaller clubs and theaters around the world.

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One other thing, while I haven't been out to anything in months bars and restaurants in my area are opened back up. They do have restrictions on capacity and hours they can be opened. Staff have to wear masks and everyone needs to be six feet apart if they're not dining together.

 

It's good that some of these places are back in business. But having to enforce these rules might hurt the owners financially because people might not want to go to a bar where you need to be six feet away from others at all times. It's great if you're a drinking alone kind of person but how are you supposed to chat with folks at the bar from that far away?

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RIP, sounded like fun place, especially when Alex would pop in on occasion :(

 

Regarding concerts, my Sept 2020 Aerosmith tix were rescheduled to Sep 2021. And I don't believe the 2021 date will happen at this point. Not the best time to have to rely on touring or playing out...

 

Except Aerosmith will be fine. The bigger acts that have been heading arenas and stadiums for years probably have very little to worry about financially. It's the artists that regular play the smaller and mid level venues that are in trouble. More than likely those larger venues will still be in business a year from now. We can't say the same thing about the smaller clubs and theaters around the world.

 

you might be surprised to hear about big groups getting bailout funds. i know i was. check it out

 

http://www.rollingstone.com/pro/news/eagles-pearl-jam-guns-n-roses-ppp-loans-1025111/

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^^^^ that includes the eagles, green day ,Tool, Nickelback, Imagine Dragons, Incubus, Slipknot, My Chemical Romance, Wilco, Weezer, Cheap Trick, Tim McGraw, Chainsmokers, Bon Iver’s Justin Vernon, Disturbed, Gary Clark Jr., Papa Roach, Ryan Tedder and the Head and the Heart have all received similar loans of varying amounts. Rappers Wiz Khalifa, French Montana and Lil Jon also received loans alongside country and Americana stars Rascal Flatts, Chris Stapleton, Luke Combs, Kip Moore and Jason Isbell.

 

from the link above

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One other thing, while I haven't been out to anything in months bars and restaurants in my area are opened back up. They do have restrictions on capacity and hours they can be opened. Staff have to wear masks and everyone needs to be six feet apart if they're not dining together.

 

It's good that some of these places are back in business. But having to enforce these rules might hurt the owners financially because people might not want to go to a bar where you need to be six feet away from others at all times. It's great if you're a drinking alone kind of person but how are you supposed to chat with folks at the bar from that far away?

ya gotta understand that everyone's lives has to come first before economy
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In terms of commercial real estate, most high dollar commercial lease are NNN as in triple net. wherein the tenant pays most most if not all of the expenses. of course the landlord is ultimately responsible for other things than a mortgage. anyways from my perspective, not the greatest time to be a commercial landlord.

 

higher vacancy rates are likely, coupled with lower rents.

 

the real kicker is higher capitalization rates mean lower values.

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That's really very sad.

 

Why must things come to an end??

 

'Adieu, adieu, parting is such sweet sorrow.'

 

 

A band playing every night! Alex really did support the local scene. Reminds me of Rush starting out.

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RIP, sounded like fun place, especially when Alex would pop in on occasion :(

 

Regarding concerts, my Sept 2020 Aerosmith tix were rescheduled to Sep 2021. And I don't believe the 2021 date will happen at this point. Not the best time to have to rely on touring or playing out...

 

Except Aerosmith will be fine. The bigger acts that have been heading arenas and stadiums for years probably have very little to worry about financially. It's the artists that regular play the smaller and mid level venues that are in trouble. More than likely those larger venues will still be in business a year from now. We can't say the same thing about the smaller clubs and theaters around the world.

 

you might be surprised to hear about big groups getting bailout funds. i know i was. check it out

 

http://www.rollingst...-loans-1025111/

Well, the PPP isn;t exactly a bailout fund. It's a loan where, if used for payroll, the business doesn't have to pay it back. Essentially it's an employment fund, as opposed to the unemployment funds that are being doled out. Not much difference, really, other than who writes what check to whom.
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