Just two days after The Hub, in Allen, announced its closure, the concept’s founders said that the property had already been acquired by a new group of investors, whose name was not disclosed.
In a statement posted on its Facebook page Wednesday, July 22, The Hub indicated that the new owners plan to reopen the complex on an “undisclosed date and deliver an engaging, world-class experience for the City of Allen and surrounding communities.”
The company did not disclose the development plans for the new venture and just said “additional updates will be shared as plans develop.”
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The statement notes that the transaction was amicable and involved no litigation or eviction proceedings, and that it “transfers ownership of the Allen property only and does not affect The Hub’s holding company or operating company.”
The news comes after The Hub announced on Monday, July 20, that it would close permanently, attributing the decision to lower-than-expected real estate development in the area and increased competition from new restaurants opening nearby.
The complex, which opened in November 2022, operated for nearly four years as an outdoor dining and entertainment park.
The company indicated that it retained some of its staff and is working with local businesses to assist employees who were affected by the closure to find new job opportunities.
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So far, it has not been announced whether the complex will retain the name “The Hub” or be relaunched under a new brand. Nor has it been disclosed what types of restaurants, bars or businesses will be part of the project. The Hub did not respond to a request from The News for more information
