"too good to be true"

SAN FRANCISCO-Tavern on the Green, the heavily-touristed restaurant in NYC’s Central Park generated a lot of news stories last year when its operators announced plans to launch a West Coast iteration overlooking this city’s urban oasis, Yerba Buena Gardens. More than $10 million reportedly would be spent on the build-out of a 43,000-square-foot space atop the Metreon, headlining an effort by Forest City Enterprises and Westfield to remodel, re-tenant and thereby revitalize the under-performing 360,000-square-foot development for success in 2010.

“The City of San Francisco, with its vibrancy, diversity and passionate dining culture, combined with the perfect setting on a park in the heart of the city is simply too good to be true.”

Apparently it was. A source with Tavern on the Green tells GlobeSt.com it never made a firm commitment to open at the Metreon and that such a commitment is now on indefinite hold as the restaurateur winds down its Central Park operation under Ch. 11 of the US Bankruptcy Code, having lost its leasehold at the end of August. Forest City did not respond to GlobeSt.com’s requests for comment. Westfield tells GlobeSt.com in a statement that it is “unaware of how recent developments may affect Tavern on the Green’s timing and planning.” It declined to say whether that means they expect the restaurant to open at the Metreon eventually and whether they are currently marketing the space to other potential tenants.