The bar shuttered on Dec. 17, according to a post on Instagram, 10 months after opening on Roosevelt Row. It was located on the ground floor of the Ten-O-One building at Central Avenue and Roosevelt Street, above its sibling bar and restaurant Rough Rider. But, there are plans on the horizon for a new bar, led by one of Teddy's owners.
“This weekend marks the start of a new chapter in this space,” the post read. “Teddy’s Preserve will be closing as of today to make way for new ownership and a new concept set to open in early 2024.”
Teddy's opened its doors on Feb. 1, offering a sun-soaked airy indoor-outdoor lounge that served as a counterpoint to the more splurgy, date-night-centric Rough Rider. With irreverently named drinks that often came in electric colors, Teddy’s offered a playful cocktail menu that harkened to a bygone era.
The chic, comfortable space evoked the greatness of the outdoors, so much so that it was awarded Phoenix New Times’ 2023 Best Cocktails in a Courtyard. “This sprawling tree-lined oasis behind the towering Ten-O-One building … is the place for stylish downtown denizens who want expert cocktails, late-night bites and a chill vibe without being cooped up after dark inside a bar or club,” the Best of Phoenix entry read.
Teddy’s Preserve also earned a spot on the New Times’ Top 100 Bars in Phoenix.
Teddy's Preserve served stylish, expertly crafted cocktails. The Roosevelt Row bar closed on Dec. 17.
Teddy's Preserve
What's next for the space?
Matt Fulton, the majority owner behind the hospitality group Whining Pig Enterprises, which also runs the cocktail lounges Pigtails, Coabana and Teddy's neighboring bar and restaurant Rough Rider, will open a yet-to-be-named bar with a new partner. Kyla Hein, an operating owner and beverage director with the hospitality group, will consult on the drinks program.The decision to close Teddy's was tough, and not one made quickly, Hein says. The remodel of the space plus "a really tough summer" and the challenges of activating such a large bar all added up.
"It wasn’t for lack of effort," Hein says. "We loved the space and our staff and everything we did there. Overall it wasn’t something sustainable for us or our team."
The forthcoming bar from Fulton will be more casual, Hein says, with TVs to watch sports and food options like pizzas and wings. The team is eyeing opening the new bar sometime between mid-February and March, she says.
"It will have great food, great drinks, it just will be super casual," Hein says.
While Teddy's was short-lived, the team is hopeful that a new concept that's more casual and quirky will bring new life to the space.
“For all the people that made Teddy’s what it was, from our amazing staff to our beloved guests, we thank you from the bottom of our hearts for all the fun we had along the way. What a journey it was,” the Instagram post sharing the closing read. “We hope you continue your patronage for the new owners and their new concept.”
