Key Takeaways:
- The developers of Fernie’s High Horse, an entertainment venue and restaurant space, are requesting a seven-month extension on their deadline to complete the project.
- The original deadline was March 31, 2026, but the developers are asking to push it back to October 31, 2026.
- The project, located at 118 and 120 S. Race St, will include a live-performance space, coffeehouse, full-service bar, patio, and four two-bedroom apartments.
- The city council approved an incentive of up to $258,000 for the project in February 2025.
- The city council will discuss the proposed amendment during a committee-of-the-whole meeting, but no action will be taken at that time.
Introduction to the Project
The city of Urbana is awaiting the completion of a new entertainment venue and restaurant space, Fernie’s High Horse, which is being developed by Race Street Ventures, LLC. The project, located at 118 and 120 S. Race St, has been in the works for almost a year, since the Urbana City Council approved incentives for its development. However, due to unforeseen delays in the construction schedule, the developers are now requesting a seven-month extension on their deadline to complete the work.
The Request for Extension
In a letter to city officials, Patrick Singer, a managing partner with Race Street Ventures, LLC, explained that the original deadline of March 31, 2026, is no longer feasible. The group is requesting that this date be pushed back to October 31, 2026. This extension is necessary due to delays in the construction schedule, which have impacted the project’s timeline. The city council will discuss the proposed amendment during a committee-of-the-whole meeting, but no action will be taken at that time.
Project Details
The new business, Fernie’s High Horse, will offer a unique entertainment experience, with a live-performance space, coffeehouse, full-service bar, and patio with a stationary food trailer. The venue will have a capacity for 250 people, making it an ideal spot for events and performances. Additionally, the second floor of the building will feature four two-bedroom apartments, including one that will serve as a green room for performers. This project is expected to bring new life to the area, providing a vibrant entertainment space for the community.
Incentives and Funding
The city council voted in February 2025 to approve an incentive of up to $258,000 for the project, with these dollars coming from tax-increment funds. This incentive is a significant investment in the project, demonstrating the city’s commitment to supporting local businesses and development initiatives. The funding will help to offset the costs associated with the project, allowing the developers to bring their vision to life.
Next Steps
The city council will review the proposed amendment and discuss the request for an extension during the committee-of-the-whole meeting. While no action will be taken at that time, the discussion will provide an opportunity for the council to consider the request and weigh the potential impacts on the project and the community. If approved, the extension will give the developers the necessary time to complete the project, ensuring that Fernie’s High Horse is able to open its doors and start serving the community as planned.
Conclusion
The development of Fernie’s High Horse is an exciting project for the city of Urbana, offering a new entertainment venue and restaurant space that will bring vibrancy to the area. While the request for an extension may cause some delays, it is a necessary step to ensure that the project is completed to the highest standards. With the city council’s support and the developers’ commitment, Fernie’s High Horse is expected to become a popular destination for events and performances, contributing to the city’s thriving cultural scene.
