Ellen DeGeneres seen checking out new restaurant space in Montecito
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She’s known for her business acumen when it comes to investing in luxury real estate, but it looks like Ellen DeGeneres is now looking to dive into the restaurant business.
The 65-year-old TV presenter was seen last week inspecting a newly leased restaurant and bar in Montecito with hedge fund titan Graham Duncan.
Duncan, 48, is a co-founder of East Rock Capital, which manages a staggering $2 billion in investments for various families.
Ellen DeGeneres was seen inspecting a newly leased restaurant space in Montecito with East Rock Capital co-founder Graham Duncan.
Exclusive photos from DailyMail.com show the couple taking a tour of the empty commercial property, with the 65-year-old TV presenter suggesting ideas for the business.
Graham was seen opening the entrance to the space and showing him the patio area.
The investment firm recently applied to lease a commercial property next to the super popular Pierre La Fond & Co Marketplace in the upper town of Montecito.
The space received a general dining venue license under the name “East Valley Kitchen,” according to the public notice posted on the building.
Exclusive photos from DailyMail.com show Graham showing DeGeneres around and pointing out what will be the patio area, with Ellen listening and contributing her own ideas.
He opened the entrance and entered the empty space where they spent about 15 minutes inside.
It’s unclear if Ellen, who recently sold her and wife Portia de Rossi’s Rancho San Leandro Montecito home for $21 million, is one of their investors or if she just wanted a private tour.
Either way, it would be smart if he sided with her.
When the restaurant opens, the comedian could help invite some of her famous local friends, like Jennifer Aniston, Katy Perry, Oprah Winfrey, Meghan Markle, and also her friends from Los Angeles, including Kris Jenner and Kim Kardashian.
It’s unclear if Ellen is one of Duncan’s investors, but the hedge fund mogul would do well to partner with the star.
Ellen, who lives in the area with her wife Portia de Rossi, kept it casual during the outing, wearing a tribal print cardigan over a gray T-shirt and jeans.
The space was granted a general dining venue license under the name “East Valley Kitchen,” according to the public notice posted on the building.
The business, located on San Ysidro Road, could potentially transform Montecito’s restaurant scene, which in the 1980s was one of the hottest spots in the region.
Café Del Sol was a happy hour and Mexican food spot that attracted numerous celebrities like Priscilla Presley, Michael Douglas, Mick Jagger, Carol Burnett and more.
In the 1990s it was a popular Italian restaurant, and later Pierre LaFond opened a wine bistro that closed several years ago.
“They could make it the new Craig’s of Montecito,” Los Angeles entrepreneur and hotspot owner Kitson told DailyMail.com.
I know that Pierre LaFond’s is like an institution up there. Having a retail store next to a restaurant is a gold mine.
“People can run and buy a gift before going to an event next door. After a meal they can go shopping with friends. It’s smart to have Ellen involved,” she added.
Ellen and her wife Portia de Rossi, 50, are frequently photographed leaving local hot spots on lower Coast Village Road, such as Lucky’s and Tre Luna.
Duncan’s investment firm applied to rent a property that is next door to the super popular Pierre La Fond & Co Marketplace in the upper town of Montecito.
Pierre LaFond Market and Deli has been described as a Montecito ‘institution’
“Those locations are technically part of the city of Santa Barbara and lack the cache of a true Montecito location,” a local told DailyMail.com.
The National Restaurant Association estimates a 20 percent success rate for all restaurants, with 60 percent failing in their first year of operation.
We guess those restaurants didn’t have Ellen ushering local celebrities in the door.
As DailyMail.com reported earlier this month, Ellen and Portia renewed their vows, with Kris Jenner officiating, at their newly acquired $70 million estate in the Carpenteria area.
“This is a new chapter,” Portia told her wife. ‘After 24 houses in 18 years, this is our first house.’