The Banyan – Bringing a Trifecta of Food, Music & Experiences to Downtown

Frederick has been dreaming of a place like this for decades, and now the Banyan project is underway at 216 East Patrick Street. Bringing this project to life are husband and wife duo, Dan and Staci Caiola, who are both trained chefs by trade. Named after beloved shade trees you often spot in the Caribbean and Key West, the Banyan will bring amazing new opportunities to Downtown Frederick as a 17,000+ square foot, three-story building converts to a live-music, event venue and restaurant.

Current front of the new Banyan building

Our City Economic Development team recently toured the Banyan to learn about the extensive building renovations and to learn about the new addition that will be constructed. The ground level space will house a restaurant with a speakeasy flair – including private dining options and specially stocked libations. The second-floor venue space will provide an industrial party flair to your special event or weddings with a seating capacity of approximately 275. The space also will provide options for regional touring acts to perform music in a concert setting with state-of-the-art sound and lighting and green room. The building addition will expand the current footprint to include an elevator, impressive commercial kitchen, and more!

And to top off the project, the Banyan will include Frederick’s the largest roof-top bar in downtown - providing incredible views of the city’s historic vista. With eclectic furnishings and comfortable community and lounge areas, this open-air rooftop bar will also feature live music as well as its very own “food truck” dubbed “The Hangry Rooster.” You’ll be able to rent the area for public or private events. Stay tuned! You won’t want to miss when they “lift” this special showstopper feature to the rooftop later this year.

The $6 million adaptive reuse project is located adjacent to the new Downtown Hotel and Conference Center site and the former Trolley Building which is now being renovated for office and retail space. The Banyan’s ground floor restaurant and event venue is slated to open first, tentatively first quarter 2026. The rooftop bar will open next spring!

Keep the Banyan on your radar! It will be the kind of place that you come to enjoy the food and music and stay for the experience! The Banyan will truly be a Frederick trifecta!

Rendering of the completed Banyan project

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The City of Frederick’s Department of Economic Development features upcoming projects as part of its blog.  If you have an interesting project in the pipeline, reach out to our team about a future feature article.  Email - businessinfrederick@cityoffrederickmd.gov

JLG Industries to Expand Operations in the City of Frederick’s Riverside Research Park

The City of Frederick and Governor Wes Moore, are pleased to announce that JLG Industries, a division of Oshkosh Corporation and a leading global producer of mobile elevating work platforms and telehandlers, is expanding its presence to Frederick. JLG Industries will be opening a new satellite office and research and development center to support ongoing business growth, drive innovation, and meet the needs of both employees and customers.  

Aerial View of JLG facility in Riverside Research Park

This new facility will span 113,000 square feet within the Riverside Research Park in the City of Frederick. Once completed, it will feature state-of-the-art areas for product development and equipment testing, as well as new workspaces designed for future expansion. The building will also include large, flexible spaces suitable for company meetings and accommodating multiple customer visits at the same time.  

“I am proud of our City Economic Development team for helping to secure the JLG investment in facilities and jobs here in Frederick.” Said Mayor Michael O’Connor.  “I am confident that Frederick residents and indeed the regional workforce will take advantage of the family-supporting jobs that JLG is creating here.” 

“The jobs and tax base created by JLG here in the City of Frederick at Riverside Research Park - Progress Labs are substantial and the City, County, and State teams will work hard to retain and expand the company for years to come,” says Richard Griffin, the Director of the City of Frederick’s Department of Economic Development. “The Matan Company has developed Riverside Research Park into a world-class business center alongside Riverside Business Park developed by St. Johns Properties.   Other adjacent tenants include Frederick National Laboratory for Cancer Research, Charles River Labs, Precision for Medicine, Biofacura and more.”  

JLG industries new expansion in Frederick at Riverside Research Park.

To support the project, the Maryland Department of Commerce is working to approve a $500,000 conditional loan through Advantage Maryland. Additionally, the Frederick County Office of Economic Development plans to cover up to $50,000 in permitting or project fees. As the project moves forward, JLG is also expected to be eligible for additional state, county and city incentives, including up to $75,000 through the City of Frederick’s Commercial & Industrial Tax Credit program. 

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Exploring a new site in Maryland? Expanding your business footprint in Frederick? Reach out to the City of Frederick’s Department of Economic Development regarding additional questions about programs and resources available at the city, county and state for qualified project. 301.600.6360 / businessinfrederick@cityoffrederickmd.gov

The Next Chapter: Business Closings & Retirements Lead to New Beginnings

46 years, 1M margaritas, thousands of employees and countless celebrations and memories!

The City of Frederick is home to 4,000 businesses, some that are on the early stages of their business journey and many which have been staples for decades. In 2024, we said goodbye to a few longtime companies that significantly impacted the business landscape in the city. While we are sad to see them go, we know their next chapter is just around the corner for these locations. Join us as we take a look at these legacy businesses and explore what’s next for these city business sites.

LaPaz Mexican Restaurant

After 46 years of serving over a million margaritas and their infamous chips and salsa, as well as being a Downtown Frederick staple, owner Graham Baker sold the restaurant and building. New owner Thomas Zipellii will be bringing an Italian themed restaurant concept to this location on Carroll Creek with renovations to begin this year. Chef/Owner Zipelli owns Salt & Vine Trattoria and Wine Bar in Olney, Maryland.

La Paz shared on social media, “We’ve been a part of celebrations and gatherings of all kinds, and so many of you have become family.” The post continued, “We’ve have had over one thousand employees throughout the years. We are so thankful and proud to have had the opportunity to be a part of your lives for so long.” With gratitude for La Paz’s contribution to the food and beverage scene, we wish Graham and team a happy retirement and look forward to the building’s next chapter.

Former LaPaz staff from throughout the years say goodbye!

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Firestone’s

Firestone’s has been a staple in Downtown Frederick for decades. When restaurateur Kimball “Kim” Firestone passed away late last year, the family successor group, the Wasley Family, that operated Firestone's Culinary Tavern for many years alongside Firestone, was determined to see that the legacy of the restaurant and buildings would be carried on by the next operators.

The family has placed the buildings on the market for sale this month. Located at 105-115 N. Market Street, the portfolio includes separate two- and four-story buildings containing approximately 15,000 square feet of which also housed Sidecar Bar and Market on Market, respectively a cocktail bar and a boutique market and wine shop. A specialized Food & Beverage team within MacKenzie Retail has been tapped to handle the disposition with Henry Deford, Tim Harrington, and Corey Caputo are handling the sale.

Marketing Brochure for the property sale of former Firestone’s assemblage of properties: click here.

Photo Credit: Mackenzie Commercial

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Wag’s Restaurant & Bar

As former owner of Wag’s, John Wagner, moves into the next phase of his story, we give him thanks and celebrate the future of the best burgers in town, “8 steps below the competition.”

New co-owners Carlo Serio and Dave Schmidt share, “We really couldn't imagine Frederick without Wag's. Everyone we know has a Wag's story. Lunch with grandparents, burgers after school, or making a bunch of new friends during happy hour. We are so honored to be trusted to keep Wag's a part of the City for another 43 years. Preserving everything that makes Wag's so special was the entire goal of the transition. There was a team in place that had been through it all, some with decades of time working at Wag's. Most important to us was that everyone kept their job and we didn't close down at all for the team. It hasn't all been easy, but we are so excited to see what the future holds for Wag's. Come down and share a meal with us, you might see what we're cooking up. Portobello philly, a smash burger or two, and maybe even bringing that famous happy hour to Sundays. We'll see you at Wag's!”

We are so happy that Frederick’s tastebuds will still be able to enjoy those yummy Wag’s burgers & fries, and we look forward to witnessing the creation of some new Frederick menu traditions.

“We are so honored to be trusted to keep Wag’s a part of the City for another 43 years. Preserving everything that makes Wag’s so special was the entire goal of the transition.”

— Carlo Serio & Dave Schmidt

The next chapter for Wag’s Restaurant in Downtown Frederick

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Sir Speedy

Coming to the end of a wonderful journey, our neighbors and friends over at Sir Speedy have turned out the lights. What a fantastic run they have had serving Frederick ! Congrats to Rick Simon and the team for nearly 38 years serving the printing and copying needs of Frederick!

Click here to learn about business locations at Everyredy Square & Shab Row.

Located in Eveready Square, Sir Speedy closed at the end of 2024 after nearly 38 years in business.

Pasta Pallette

After nearly 10 years of selling pasta to Frederick's foodies, it's time for the owners to start the next chapter of life. With retirement on the horizon, they are slowing the daily pace, traveling the open road, and visiting new places. From their social media, “We have loved getting to know you and sharing amazing pastas with you. Over the years this little ten-foot-wide shop has filled our lives with excitement and anticipation for the future. Now the future is here and it's time to move on…”

Thank you for being part of the Downtown Frederick scene for so many years!

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Are you looking to open a new business in the City of Frederick? Reach out today to learn more about opportunities to create Frederick’s next legacy businesses. Call the City of Frederick’s Department of Economic Development at 301.600.6360 or email businessinfrederick@cityoffrederickmd.gov to begin your business journey.

Groundbreaking Held in Downtown Frederick for Future Downtown Hotel and Conference Center

Governor Wes Moore recently joined City officials and staff to celebrate a significant milestone, the Downtown Hotel and Conference Center project!
This transformative development will bring new opportunities for tourism, business, and economic growth, creating a vibrant hub in the heart of our City. The new full-service hotel will be an anchor on world-class Carroll Creek Park in the heart of Downtown.

Project Scope:
• 208 Room -Marriott Branded Full-Service/Upper Upscale Hotel
• 21,210 SF Conference Center (ballrooms, pre-function, and breakout space)
• 253 On Site Parking Spaces (227 Garage/26 Surface)
• 4 Food & Beverage Outlets (rooftop, terrace, coffee, grab-n-go)
• 2,678 SF Retail Space
• Renovated historic Trolley Building and adjacent Eagles Building

December 19th groundbreaking of Frederick Downtown Hotel & Conference Center including demolition of former Frederick News Post press room.

Construction is anticipated to begin in 2025 with completion date anticipated of 2027.