Hotel Will Take on Tar Heel Theme

Posted on Oct. 21, 2019

The Franklin Hotel in downtown Chapel Hill will get a new name and more of a Tar Heel identity under its new owners.

There could be James Taylor lyrics in a print on the wall or in a message woven into the carpet, said Caroline Stephens ’14 with AJ (Adventurous Journeys) Capital Partners in Chicago. But the company isn’t yet sure what references to Chapel Hill and UNC will be incorporated into the Graduate Chapel Hill, the name it will adopt after renovations start in January.

AJ Capital — called one of the world’s 50 most innovative companies by Fast Company — bought the Franklin from a group of investors for more than $20 million, according to Orange County excise tax records. The company buys hotels in college towns and remodels them to reflect their communities and the colleges or universities there. So far, the Graduate Hotels chain has 21 operating properties and 11 in development.

“What’s really important to every Graduate hotel is storytelling,” Stephens said. “You’ll be learning something about the university throughout your stay. It might be the color of the curtains in your room. Everything is designed to tell the larger story of the community that you’re in.”

For example, the Graduate Minneapolis, near the University of Minnesota, pays homage to the “Land of 10,000 Lakes” with a lake lodge vibe as well as to Prince with paisley prints in a “Purple Rain” theme. In Berkeley, Calif., the bohemian and “game day buzz” atmosphere features rooms with lamps made from bongs.

“Each of the hotels is supposed to feel like a unique hotel,” Stephens said. “For this one, people can expect it to have a very Carolina feel.”

AJ Capital will renovate guest rooms (bringing the number to 70), event spaces, common areas and the lobby, which will become Poindexter Coffee, the chain’s cafe and bar.

“We hope to be truly a gathering place as much as a hotel,” Stephens said. “Besides a great place to stay, we want to be a place where people in the local community will want to come hang out and meet up with friends.”

311 W. Franklin St.

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 Courtyard Complex Sold

Just down West Franklin Street from the hotel, another signature property recently was sold, but no major changes are planned.

New owner Vista Property Group might spiff up the enclosed space surrounded by the five buildings that gives The Courtyard complex its name.

“We may have some changes for the courtyard itself,” said Hymie Mishan of Vista. “The seating and the use of the courtyard is something we’d like to enhance, whether it’s with events or other assets.

“Currently all the retailers have leases. There are no vacancies. Mostly things will stay the same as long as they are successful, and I think they will be.”

The Courtyard was built in 1982 and renovated in 2013. The 17,389-square-foot property is home to Kipos Greek Taverna, Vimala’s Curryblossom Cafe, Franklin Street Yoga, Cat Tales Cafe, the Chapel Hill Barber Shop and 20 residential units for students, called the Courtyard Lofts.

Vista paid the Dilweg Companies $10.85 million for the property. Dilweg’s CEO, Anthony Dilweg, said Dilweg Companieshad wanted to sell the Courtyard, its last mixed-use facility, to concentrate on its offices across the Southeast.

431 W. Franklin St.

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Olio & Aceto Closes After Death of Co-Owner

Olio & Aceto Cafe, which started in 2013 as a food truck before opening the next year as a restaurant in the Galleria shopping center on South Elliott Road, closed in October after the loss of partner Glenda Keenan, 69, to cancer.

Keenan’s daughter and partner in the cafe and neighboring Blue Sky Oil & Vinegar, Suzie Keenan, said Blue Sky will remain open. “It’s just too difficult for me to run two small businesses while trying to grieve for my mother,” she said. “It was a decision to keep Blue Sky Oil & Vinegar, which was there first.” Blue Sky, offering imported olive oils and balsamic vinegars, was founded in 2010. Glenda Keenan published her recipe book, Cooking with Olive Oil & Balsamic Vinegar, in 2013.

The Keenans sold the truck in 2016 to concentrate on the cafe. Olio & Aceto used products from Blue Sky and was known for its almond chicken salad for lunch and green eggs and ham for brunch.

“We’re very grateful for the loyal customers we’ve had over the five years,” Keenan said. “We’re very sad to close, but it’s what needs to be done for my life right now. … There’s no plan to open another restaurant now, but we would like to in the future.”

400 S. Elliott Road | blueskyoilandvinegar.com

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Courtyard Complex Sold

A signature Chapel Hill property recently was sold, but no major changes are planned. New owner Vista Property Group might spiff up the enclosed space surrounded by the five buildings that gives The Courtyard complex its name.

“We may have some changes for the courtyard itself,” said Hymie Mishan of Vista. “The seating and the use of the courtyard is something we’d like to enhance, whether it’s with events or other assets.”

The Courtyard was built in 1982 and renovated in 2013. The 17,389-square-foot property is home to Kipos Greek Taverna, Vimala’s Curryblossom Cafe, Franklin Street Yoga, Cat Tales Cafe, the Chapel Hill Barber Shop, the Franklin Street Yoga Center and 20 residential units for students.

Vista paid the Dilweg Companies $10.85 million for the property.

431 W. Franklin St. | downtownchapelhill.com

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A Move, Openings and Closings

The Perennial Cafe has moved a door down to 401 W. Franklin St. into space formerly occupied by Cuban Revolution, which closed. The cafe has more room to serve its coffees, teas, espresso drinks, bagels and other light fare. perennial.cafe  ■  Shakti Body Piercing took over Perennial’s former space at 403 W. Franklin. instagram.com/shaktipiercing  ■  Blue Hand Home, purveyor of furniture, rugs and women’s accessories, has opened at 708 W. Rosemary St., bluehandhome.com  ■  MidiCi Italian Kitchen at the corner of East Franklin and South Columbia streets has closed. A spokesman for the chain said that closing was the franchisee’s decision and that the company had not ruled out a new restaurant in this area.  ■  Hops Burger Bar at 140 W. Franklin St. closed after owners found logistics between that location and their original Greensboro restaurants too difficult to manage.

—Laura Toler ’76

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