San Diego's ever-expanding Consortium Holdings hospitality group (Born & Raised, Craft & Commerce) has officially finalized the purchase of North Park's 75-year-old The Lafayette Hotel, Swim Club & Bungalows for $25,815,000.
Consortium Holdings founder Arsalun Tafazoli has purchased the 131-room, grand colonial-style The Lafayette Hotel in San Diego's North Park community. Tafazoli will eventually implement design upgrades in the near future while maintaining the name and respecting the history of the hotel. With the purchase, expect Consortium Holdings with the guidance of corporate chef & partner Jason McLeod to overhaul onsite food & beverage options, including rebranding Hope 46 restaurant and installing a new concept in the space that long housed Red Fox Steakhouse & Piano Bar, which is in the process of opening across the street in a new building. There will also be a "wellness component" added to the property.
The Lafayette Hotel was owned by developer Jay Wentz of JCG Development since he purchased it in 2004 for $11 million. Following the acquisition, the hotel underwent a $6 million renovation. The Lafayette was originally built in 1946 by former car dealer and developer Imig Manor. The hotel was then purchased in the 1950s by hotel magnate and then-San Diego Chargers owner Conrad Hilton.
Arsalun Tafazoli began what is now Consortium Holdings hospitality company in 2007 with the opening of Neighborhood in San Diego's East Village. Consortium Holdings (also known as CH Projects) now has over a dozen concepts around San Diego, including cocktail-focused Polite Provisions, classy dive bar El Dorado, neighborhood bar & restaurant Craft & Commerce with adjacent tiki-speakeasy False Idol, two locations of its Japanese fusion restaurant Underbelly, modern barbershop Dover Honing Co., seafood-centric Ironside Fish & Oyster, bi-level steakhouse Born & Raised, Westfield UTC bottle shop and speakeasy Raised By Wolves, brunch-centered Morning Glory, Chinese restaurant Fortunate Son, and industry-focused East Village sandwich shop and Negroni bar J & Tony's Discount Cured Meats and Negroni Warehouse with neighboring coffee shop Invigatorium in partnership with San Diego's Modern Times Beer.
The ever-expanding restaurant group also has numerous additional concepts in the works, including a refresh of East Village's Neighborhood that is expected to be completed in the very near future and also includes a new speakeasy called Young Blood. Another new concept expected to unveil this year is members-only social house The Reading Club and adjacent Italian-inspired Seneca restaurant, both which will be sited on the 19th floor of InterContinental Hotel in downtown San Diego. There is also a new concept in the works for North Park and Consortium Holdings co-founder Arsalun Tafazoli has purchased the shopping plaza at 3401 Adams Avenue in Normal Heights, which sits across the street from Blind Lady AleHouse and approximately a half mile from CH's Polite Provisions. There is no word yet on what is planned for that space. Arsalun also took over ownership of Bar Pink in North Park last year and plans to convert the space to become a new cocktail bar dubbed Part Time Lover.
The Lafayette Hotel, Swim Club & Bungalows is located at 223 El Cajon Boulevard in San Diego's North Park. For more information, visit lafayettehotelsd.com, and learn more about Consortium Holdings at consortiumholdings.com.
