Eli’s Tavern

From Ghost Town to Go Town

In April 2023, Buzz by Lauren KruchtenLeave a Comment

Share this Post

Franklinton is primed to be Raleigh’s next coolest burb

“If you build it, they will come.” So goes the MO for Joe and Stephanie Farrell, a husband-and-wife team who have pretty much dedicated their careers to slowly but surely building up Franklinton to be the newest Wake County-adjacent hot spot.

The couple (Joe, the visionary, designer, builder and developer; and Stephanie, the interior design guru) first visited the downtown area in 2019, recalling it being “pretty much abandoned,” says Stephanie—think old, dilapidated, boarded-up buildings with no tenants and scary-quiet streets with nary a car in sight. Fast-forward to today, and, thanks to the Farrells’ investments, the town’s Main Street is abuzz with activity and thriving businesses—plus an influx of people moving to the town. “There’s absolutely a newfound energy,” Stephanie adds.

It’s no surprise people are flocking to quiet outer towns like Franklinton. Living in Raleigh is getting more expensive every day, thus pushing out people who can no longer afford it or who would just rather get more bang for their buck. And with many still working remotely, commuting 45 minutes to Raleigh is a nonissue.

The Farrells saw the potential in Franklinton—and the upshot for both them and the community to restore and reinvigorate it. So, they began by buying up and upfitting an old movie theater that now houses Owl’s Roost Brewery, and, with the help of commercial real estate veterans Jim Anthony and Steven Hayes, have since purchased almost the entire block—think 24 buildings and counting—including Toros Tacos + Tequila; coffeeshop Mason x Main; and The Slammer Speakeasy, situated in the basement jail of the former town hall.

“The thought was, we could buy one building and put something in there, but if the rest of the town is dilapidated and abandoned—if it’s neglected like a ghost town—why would people come?” says Stephanie. “So, it’s really like flipping a town.”

One of Joe and Stephanie’s current projects is a restaurant in partnership with Justin Bee and Nunzio Scordo, aka former owner of Raleigh’s Driftwood Cantina, who also recently opened Downtown Franklinton restaurant Eli’s Tavern. The trio’s venture, a two-story bar and eatery dubbed Franco’s Italian Steakhouse, will feature a massive courtyard, old-school ’50s and ’60s decor, an indoor/outdoor fireplace, and upstairs and downstairs bars. Quite the draw, Scordo is optimistic it will attract people from Raleigh and beyond to venture in for a meal. 

Not stopping there, the Farrells also have plans to develop The Carolina Manor House, a 1904 Victorian home on 8.5 acres just a 1/4-mile from downtown, into an event center with on-site cottages; treehouses; a pavilion for weddings; and an amphitheater for outdoor concerts, corporate events, retreats, etc.

“I know what Joe has done because he’s done it in some other areas like Youngsville,” says Scordo. “If these guys are putting their time and money into this, it’s gonna be worth it. A lot of our customer base at Eli’s is from Wake Forest, Louisburg, Youngsville, Oxford. … They’re driving from all over the place because there’s nothing up here.”

But, clearly, with all the growth, and new businesses and people moving to the area, that’s about to change. … “It’s really cool to see all the businesses that weren’t there two years ago,” says Stephanie. “It’s now one of the nicest towns we’ve ever been in—people are so appreciative and thankful and encouraging. We know Franklinton is on the up and up.” See ya on Main Street. 

Share this Post

Leave a Comment