On June 18, long-standing Carmelo’s Italian Restaurant will serve its last veal marsala and beef stroganoff at 504 E. Fifth St., as the property has sold. Owner Carmelo Mauro tells Austin 360 that rising property tax prices are to blame. Mauro decided to sell the land when the value went from $3 million in 2015 to $5 million the following year.
Mauro also says the local government is to blame, because “They are on a mission and their mission is to get as much money from the business community. The tragedy is there is no cap on businesses, so they can increase as much as they please.”
A Houston-based company purchased the property, and Mauro speculates that it will build condominiums on the land. Many of the commenters on the Austin 360 are appalled at this fate.
Carmelo’s will continue business until the final service on Father’s Day.