Opening delayed for new downtown Reidsville restaurant
Friday, November 6, 2009
(Updated 1:11 pm)
REIDSVILLE — The opening of a new downtown restaurant has been delayed, city officials announced Friday.
The Cutting Board was scheduled to open this month in the former Bank of Reidsville building at the corner of Morehead and South Scales streets. But the opening has been postponed because the developer is unable to secure funding.
“These days, banks are required to examine commercial development loans with greater scrutiny,” said Waheed Haq, a managing partner with developer RANA of Raleigh, in a news release. “We were confident that the funding would be forthcoming when we began the project. Unfortunately, that has not happened.”
The company is continuing to pursue financing to finish the project, the news release stated.
The City of Reidsville purchased the old bank building in 2007 with plans to renovate it into retail space and condominiums. The city announced in July that The Cutting Board, a Burlington restaurant, would expand to downtown Reidsville.
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