Downtown Fresno restaurateur buys Selland lot

Source: The Business Journal
 Written by Ben Keller, Business Journal staff writer

 The Fresno City Council voted today to sell 36,000 square feet of parking lot space at Selland Arena to the owner of the Cosmopolitan restaurant before the nearly century-old downtown building is leveled by high-speed rail. Gary Lanfranco has made headlines over the last few years as just one establishment in the crosshairs of the state's bullet train project. Even longtime customers were concerned over what would happen to the Cosmopolitan Tavern & Italian Grill once high-speed rail construction crews raze the building that has stood at G and Fresno streets since 1923. They now have an answer as the city sells a 36,467 square-foot lot at Ventura and O street to Lanfranco as part of its efforts to unload a number of pieces of city-owned real estate. According to Lanfranco, the space met his requirements of 5,300 square feet for his newly relocated restaurant, along with around 40 parking stalls. "I am currently and have been for many years debt free and doing good business in downtown Fresno," Lanfranco said. "All I want to do is replace that." The Cosmpolitan traces its roots back to 1902 when Lanfranco's family first acquired the property at 1546 Fresno St. After a building was set down on the site in 1923, the family started up a restaurant there in 1933. Under Lanfranco, 67, a complete remodel was done in 1971 and the top story was removed. Now, Lanfranco plans to pass on his legacy to his son who now manages the business. High-speed rail planners aim to level the current structure in place of a new G Street bridge crossing Fresno Street.

 URL to original article: http://www.thebusinessjournal.com/news/retail/11814-downtown-fresno-restaurateur-buys-selland-lot 

 For further information on Fresno Real Estate check: http://www.londonproperties.com