Iconic Belvedere Restaurant transitions to new ownership

SARANAC LAKE | The Belvedere Restaurant property — a Saranac Lake landmark that has been owned and operated by the Cavallo Family for nearly 90 years — has transitioned to new ownership. Representing the next generation of forward-looking local entrepreneurs, Chrissie Wais and John Levy have taken the helm at the historic business. The ownership transition marks a new chapter for the Belvedere, which originally served as a boarding house before the restaurant opened in 1933. To commemorate the occasion, the new owners, the Saranac Lake Area Chamber of Commerce (SLACC) and Adirondack North Country Association (ANCA) and Center for Businesses in Transition (CBIT) held a ribbon-cutting ceremony at the restaurant July 20 as area residents applauded the iconic transition. "I know this community really well. I've lived here and worked in hospitality since 2002. Front of the house, back of the house, opening previous restaurants as both an owner and chef, and then starting a food and beverage consulting business," said Levy. Even though the current economic environment with high inflation was not in his original projections, Levy said "the timing was right to do something like this." Levy has made updates to the restaurant's offerings including weekly specials, an upgraded menu, a new point of sale system and additional staff. The couple sees significant opportunities for growth due to the property's adjoining acreage, proximity to the new rail trail and easy access to outdoor experiences and downtown events. Previously unknown to each other, they came together thanks to a mutual friend and established a business model that maintains their independence and utilizes their strengths. Levy owns and operates the restaurant, and Wais owns and manages the property. Wais said she has loved hospitality ever since her first job serving snacks at the Enchanted Forest Water Safari in Old Forge at age 15. In her career in fundraising, she has appreciated the important role restaurants play in "bringing people together in special ways." "When I decided to relocate full time to the area in 2020 and started looking at properties, I was looking for options that represented an active part of the community I loved, where I grew up spending my summers hiking, fishing, canoeing, camping and, of course, eating. This seemed like a perfect fit," Wais said. Over the last two years, Wais and Levy accessed local business support services and resources through SLACC and CBIT, including matchmaking opportunities that connect aspiring business owners with available businesses. SLACC Executive Director Rachel Karp is one of 13 CBIT community liaisons across the North Country who are trained to support businesses through the ownership transition process. "SLACC has been supportive beyond all expectations," said Wais. "Our community is lucky to have a vibrant, active chamber under Rachel's capable leadership." "The Chamber is proud to support business ownership transitions and continue our collaboration with ANCA and the Center for Businesses in Transition," said Karp. "This program and the resources it provides are supporting businesses in many ways and truly having a positive impact. We are excited to celebrate Chrissie and John, their hard work and their bright future with the Saranac Lake community." "People don't often see the behind-the-scenes work that goes into a business transition," said ANCA Executive Director Elizabeth Cooper. "Chrissie and John have already put two years of work and capital into this venture." She said the two have worked hard to develop their respective business plans, navigate state and local agencies, create a professional services team, access licensing, secure financing and more. Other local connections inspired Wais and Levy to pursue the business venture. Terry Kent, a former Lake Placid resident and Olympian who worked with Wais at Cornell University, introduced her to Lee Keet, a long-time advocate for the development of the rail trail from Lake Placid to Tupper Lake. Keet's insight about the multi-use recreational trail and its economic potential for local businesses helped Wais and Levy develop forward-thinking business plans. "The rail trail will be a game changer for downtown businesses," said Keet, who has long touted the economic benefits of rail trails for local economies. "John and Chrissie are in a great position to lead the Belvedere during this exciting time for Saranac Lake businesses. I look forward to gathering there with friends and family for years to come and watching how this business develops along the way."

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Iconic Belvedere Restaurant transitions to new ownership

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