The restaurant draws between 1,000 and 1,500 people for diner daily.

The owners did not want to move, but had no choice when Houston-based Hanover Co. began the process of purchasing the building only to raze it and construct a 290-unit, luxury apartment community.

Bruce Berger says the deal with Hanover is scheduled to close in June, and Hanover wants to begin construction of the community as soon as possible.

However, the owners of Racines would like to get an extension on their lease for about six months, until the new restaurant opens in December. That way, they won't have to lay off their 100 employees, some of whom have been with the restaurant for almost 20 years.

"Hanover indicated to us three months ago that they might be able to extend our lease for some period, although not the entire time we want," Dixon Staples, one of the three owners tells GlobeSt.com. "It would be a real shame if they don't extend our lease. But we're not in the driver's seat, they are."

John Imbergamo, a restaurant consultant acting on behalf of Racines, notes that the restaurant has always had a demolition clause in its contract, and the owners knew at some point the building might be razed for a new development.

Denver-based Semple Brown Design is the architect for the new building, which is smaller than the current 12,000-sf restaurant. But because it is more efficiently designed, it will seat 260, compared with 250 at the current restaurant.

Also, the new restaurant will have at least 81 parking spaces, compared with 54 at the existing restaurant.