When restaurants have a giveaway it usually involves an item on the menu. In the case of Pace restaurant, 413 State Street, they are giving away the restaurant itself. In fact, they will pay you to take it. A Santa Barbara Independent story by food columnist George Yatchisin says this unusual giveaway includes the restaurant, a beer and wine license, the lease paid for a year, insurances paid for a year and $20,000 in working capital to help cover your expenses.

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  1. B C. says:

    interesting idea. The $500 entry fee is an interesting device to keep away the people that aren’t genuinely serious.

    I’ll be very curious to watch this develop and see how much response they get.

  2. David says:

    Suspect how? The value of what they are giving away is so high that they’d need A LOT of entries to somehow profit off this.

  3. Milo says:

    Oh please, the value of this restaurant is NOT high. The location is horrible. The “unsunny” side of the 400 block of State Street. The restaurant is more than likely losing money and has a long term, expensive lease.

    But what a creative attempt at cutting your losses AND assigning your lease obligation. “Give” the restaurant away!

    Well, except for the $500 entry fee.

  4. shebeest says:

    Damn! Yet another of my favorite SB restaurants closing. Never had anything there that wasn’t fabulous. Best calamari in town. Very sad to read this. I think the owners are hard working, principled people, not to mention amazing chefs.
    Everything is NOT a scam in this world. It does not surprise me that they are closing in such a creative manner. I wish them all the best!

  5. Don says:

    Very sorry to see them going away. Best burger in town.

  6. gerald bostock says:

    Wow! I see no sinister intent; hasn’t this been done before? I gotta get there quickly.

  7. gerald bostock says:

    Any restaurant that knows to serve dark meat as their chicken rather than chicken breast is good in my book.

  8. DR says:

    4/28/14 – News post on Pace Restaurant: “Regretfully we are canceling the contest at this time due to unforeseen circumstances. Our plan is to relaunch the contest in the near future…”

    What happens to the $500 fee that was paid?

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