Tom Power, owner of Corduroy restaurant at 1122 9th Street, NW, has entered into an agreement to purchase the building that houses Mood Lounge. The agreement is contingent on Power receiving financing, and the agreement may be terminated if the closing doesn't occur before March 31, 2012. The agreement is also subject to the approval of a bankruptcy court. (As previously on this blog, the owner of the Mood Lounge building filed a bankruptcy petition with the United States Bankruptcy Court for the District of Columbia.)
This is likely to be welcome news to the neighbors of Mood Lounge, which has been the subject of a number of complaints and proceedings before the Alcoholic Beverage Control Board — although it is not clear what Power's plans are for the Mood Lounge building, should he be successful in his effort to purchase it.
In a by Washingtonian magazine, Corduroy was called "one of the hidden gems of Washington dining", and the restaurant has been on Washingtonian's of the 100 Very Best Restaurants for three years in a row. It's also been that Power plans to open a second restaurant on 9th Street, adjacent to Corduroy.