Built in 1887, the Grand Pacific Hotel sits at the corner of Fifth Avenue and J Street in the Gaslamp. Owned by HP Investors, a San Diego-based real estate investment and management company, the 15,000-square-foot building will redeveloped in partnership with the local hospitality team behind RMD Group, which operates a number of dining and nightlife spots in the downtown area including FLUXX, Side Bar, Rustic Root, Ciro’s Pizzeria, Salvucci’s, and the just-relaunched Volcano Rabbit.
This spring, the group will embark on a multimillion-dollar project that will open in mid-2019 as a multi-level, multi-concept restaurant and bar. Though the project is still in the development stage, RMD Group partner Michael Georgopoulos described that their goal is to create a “true entertainment hub where food, wine, beer, cocktails and music come together in a variety of unique spaces and experiences perfect for everyday dining, drinking and special large-scale meetings and events”.
In a release, HP Investors managing partner Sumeet Parekh said RMD Group stood out for their “thoughtful redevelopment of the site that kept the integrity of the building while offering a modern concept that reflects the future of the Gaslamp”. Urban Strategies Group represented the landlord and the tenant in the transaction. USG’s Pasquale Ioele shared, “With their hospitality experience in the downtown area, RMD Group is the ideal choice to transform this historic site. We are pleased to have connected HP Investors to such experienced operators.”