The corner of West Santa Fe Avenue and South Main Street is in the oldest part of Old Town Placentia. The BNSF tracks run just south of it, with a public parking lot and an alley in between. The building at 202 W. Santa Fe Ave. is now two stories and about 11,000 square feet, split evenly at roughly 5,500 square feet per floor.
On paper, that building is now "Placentia Exchange." The ground floor is planned as a food hall, and the second floor as a restaurant, bar and lounge called "The Loft at Main & Rail." The operator's own filing says the brand name "could be subject to change." The name may change. The rules for the building are already set. The Planning Commission approved the use permit on June 9, 2026, and those conditions make it a food hall that also serves drinks. It cannot become the late-night venue the original operations plan described.
The building came before the business
The second story is already part of what's approved there. On June 11, 2024, the city's Development Services Department approved Site Plan Review No. SPR 2024-01. It covered a remodel of the ground floor and a new 5,500-square-foot second-story addition. The city described the design as meant to complement the historic character of Old Town and to support restaurant and hospitality uses.
The 2026 request didn't change the building at all. According to the June 9 staff report, the use permit leaves the approved building envelope, site layout, parking configuration and architecture as they were. The commission was voting on how the business inside would operate: its hours, its alcohol service, its entertainment and its events.
What was requested, and what was approved
The staff report lists Gevork Martirosian as the applicant, representing property owner Vartan Martirosian. The permit packet is dated March 2, 2026, and it includes an operations plan. The plan described a ground floor with a kitchen run by the main restaurant and bar operator, plus at least one independent food operator in its own separate space. It said the space could hold more than one operator "depending on final leasing and concept mix." Upstairs would be the bar and lounge, flexible dining, and space for private events. Food would come up by dumbwaiter or elevator.
Here is the plan next to the conditions the commission adopted:
| Operations plan, March 2026 | Approved conditions, June 2026 | |
|---|---|---|
| Sunday to Wednesday | 6:00 AM to 11:00 PM | 7:00 AM to 12:00 AM |
| Thursday and Friday | 6:00 AM to 2:00 AM | 7:00 AM to 12:00 AM |
| Saturday | 7:00 AM to 2:00 AM | 7:00 AM to 12:00 AM |
| Ticketed events and DJ nights | Listed as "venue style" programming | No cover or ticketed general admission without a special events permit |
| Valet | A section of the plan covered parking, valet and transportation | Valet prohibited |
| Dancing | Not addressed | No dance floor, permanent or temporary |
The approved hours are one schedule for every day of the week. The weekday close moves an hour later, to midnight. The Thursday-through-Saturday close moves two hours earlier, from 2 AM to midnight. The Placentia Police Department's own conditions repeat the limit: "Hours of operation shall not be past midnight (12:00 AM)." To change the days or hours later, the operator needs written approval from the Director of Development Services.
Food has to stay in charge
Several conditions are written so that alcohol can't become the main business here.
- At least one food vendor or kitchen has to be open and serving food whenever alcohol is sold, served or consumed on the premises.
- The second-floor bar and lounge has to operate together with the food hall and restaurant. It can't run as a stand-alone bar, tavern or nightclub.
- The ground floor has to keep at least one active food service tenant at all times. If every ground-floor food tenant is gone for more than 90 consecutive days, the Director of Development Services reviews the permit and may require changes to it.
- Food service has to remain the primary use of the premises at all times.
In practice, if you walk up to the corner at 11 PM on a Friday and the bar upstairs is open, there should be a kitchen serving food. The approval assumes a food hall where people can also have a drink.
The entertainment stays in the background
The operations plan listed live performances, DJ nights and ticketed events for The Loft. It also listed private celebrations, corporate mixers and community cultural and civic events. The approved conditions keep most of that list but limit how far it can go.
Live entertainment, DJs, musicians and amplified performances are allowed as accessory uses. They have to stay "subordinate" to the restaurant and food hall. Private, corporate and community events are allowed too, as long as they stay incidental to the restaurant use.
The limits are specific:
- No cover charge, admission fee, ticketed entry or minimum beverage purchase for general admission, unless the Director of Development Services approves it through a special events permit.
- No outside event promoters or third-party nightclub operators without prior written approval from the city.
- No dance floor, and furniture can't be moved to make room for one.
- Recurring ticketed entertainment, concert-style events, more event space or less food service would each require a formal modification of the permit.
The plan also describes how noise will be handled. Speakers face into the room, audio equipment is volume-limited, doors stay closed during amplified events, and staff run regular sound checks at the edge of the property.
Parking is the public lot, with no valet
The commission prohibited valet parking outright. If the operator ever wants valet, it has to go back to the Planning Commission with a written agreement for a privately owned lot controlled by a different property owner. It also has to show the valet wouldn't affect public parking, public streets or neighboring businesses. The nearest parking named in the staff report is the public lot just south of the building, next to the BNSF right-of-way.
How it fits with the rest of Old Town
As part of its review, city staff listed the alcohol licenses already active near the site. The list doubles as a guide to the neighborhood:
- Tlaquepaque Restaurant, 101 W. Santa Fe Ave., Type 47
- La Biblioteca, 128 W. Santa Fe Ave., Type 42
- Tony's Original Deli & Bottle Shop, 132 S. Bradford Ave., Type 47
- San Sushi Japanese Restaurant, 161 W. Santa Fe Ave., Type 41
- El Farolito Restaurant, 201 S. Bradford Ave., Type 47
- El Taco Sabroso, 214 W. Santa Fe Ave., Type 41
- American Legion Post 277, 230 S. Bradford Ave., Type 52 and Type 58
- 301 Café, 301 W. Santa Fe Ave., Type 41
Placentia Exchange applied for a Type 47 license, which covers beer, wine and spirits served on site. Tlaquepaque, Tony's and El Farolito hold the same license type. Staff wrote that the new license would fit the existing mix of uses in Old Town. The Placentia Police Department reviewed the request and generally supports it, provided the conditions are followed.
The hearing, and the review built into the permit
The public hearing opened at 6:45 p.m. on June 9 and closed at 7:15 p.m. According to the approved minutes, commissioners raised questions about noise, parking, alcohol sales, restaurant operations and the effect on the community, and the applicant answered them. Public comment at the hearing included concerns about late-night hours and noise.
The motion passed 4-0. Commissioners Davis, Guerrero, Evans and Chair Perez voted yes. Commissioners Smith, Navarro and Rocke were absent.
The approval also requires two more steps. Before the building can be occupied, the operator must submit a final operations plan for approval by both the Director of Development Services and the Police Chief. That plan has to be kept on site, and any material change from it triggers another review. Then, within six months after alcohol sales begin, the operator must come back before the Planning Commission at a noticed public hearing. That hearing will look at food service, alcohol sales, security, parking, noise, entertainment and how the business fits with its neighbors. After it, the commission can affirm the permit, change the conditions, add new ones, or start proceedings to modify or revoke it. If the operator skips the hearing, that is a permit violation in itself.
Because the review is a noticed public hearing, the city will announce it in advance, and anyone who lives or eats near Main and Santa Fe will be able to speak at it.
Projects like this one change how buyers see a block, and that's part of how the Bald Brothers Team prices and markets homes near Old Town. If you own near Santa Fe Avenue and want to know how the corner's next chapter fits into your sale, start the Two Week Selling System™ and get your free plan.
