New Greek-inspired restaurant in Salt Lake City approved for EDLF loan

November 14, 2024

Paréa was recently approved for an Economic Development Loan Fund loan from Salt Lake City's Department of Economic Development

The Salt Lake City Council recently approved a $350,000 Economic Development Loan Fund (EDLF) loan for Paréa, a casual restaurant/market located at 320 E. 900 South.

Paréa, which opened in October, specializes in hand-stacked gyros and grab-and-go Greek-inspired dishes that are house-made & locally sourced. The concept comes from the locally renowned entrepreneur Manoli Katsanevas, who owns Manoli's, a fine-dining Greek restaurant just a block away.

"We're proud to support local entrepreneurs like Manoli, whose vision for Paréa will not only add to the Salt Lake food scene but also strengthen connections in our community," said Mayor Erin Mendenhall. "This investment is a testament to Salt Lake City's commitment to fostering small businesses that enhance our neighborhoods and contribute to a thriving local economy."

Paréa received a $350,000 Economic Development Loan Fund (EDLF) loan to assist with the construction/renovation of the space by working with the Department of Economic Development's Business Development division. The building is a converted office that will feature an outdoor patio to enjoy in the heart of the 900 S. business corridor.

"Paréa will bring even more great food and community space to Harvey Milk Boulevard," said Darin Mano, City Council Member for District 5. "I'm proud of Salt Lake City's continued support for entrepreneurs who strengthen our local economy while making our city even more distinctive and welcoming."

"Helping local entrepreneurs like Manoli is central to our mission," said Lorena Riffo Jenson, Director of Salt Lake City's Department of Economic Development. "They will strengthen the 900 South business district and contribute to its vibrancy."

The EDLF aims to stimulate business development and expansion, create employment opportunities, encourage private investment, promote economic development, and enhance neighborhood vitality and commercial enterprise in Salt Lake City by making loans available to businesses. The program's overarching goal is to invest in viable businesses that produce strong economic returns and provide positive social and environmental impacts. Learn more here.

About Paréa: Paréa provides a cozy casual environment serving as a place to sit down and have a gyro and a frappé, grab food for family gatherings and dinner parties, or for meal prep to make the week easier. Everything is sourced to consider quality, while prioritizing a focus on products obtained locally, responsibly and sustainably. Grab & Go, Take & Bake, and Ready To Eat items are available. Learn more here.

About Salt Lake City Department of Economic Development: Formed in 2016, Salt Lake City's Department of Economic Development is focused on building Salt Lake City as a vibrant, beautiful, prosperous, diverse, and authentic place - a place that is economically accessible to everyone. Known as the "Crossroads of the West," Salt Lake City is strategically located for businesses to succeed. SLC DED works to streamline processes, provide excellent customer service, and offer an array of resources and services to recruit and retain businesses in the City, and ensure they have the tools to thrive. Learn more here.