Queen City Grill, which was set to close on Jan. 2, stays open after a last-minute deal with new investors.

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Queen City Grill won’t close after all. Thanks to a last-minute deal before a Jan. 2 shutdown deadline, Plymouth Housing Group announced Wednesday morning it has reached an agreement to keep open the 30-year-old bar at the corner of First Avenue and Blanchard Street.

Paul Lambros, executive director of the Plymouth Housing Group, said in a statement that the nonprofit group was pleased it could come to an agreement with a new restaurant group that “will honor the spirit of this longtime neighborhood business by retaining many of the Queen City Grill’s employees and the restaurant’s iconic, classic feel.”

The deal ends an acrimonious relationship between Plymouth and the previous owner of the Belltown bar restaurant. Queen City Grill’s new owners, Trevor Greenwood and Wade Moller, are also investors behind the Cantinetta restaurants in Wallingford and Bellevue, Bar Cantinetta in Madison Valley, Mercato Stellina pizzeria in Bellevue, and Chavez on Capitol Hill.  In a statement, Greenwood, who once managed Queen City, said “I’m very excited about bringing new energy back into the Queen. I have a lot of nostalgia for her past and optimism for her future.”

The new owners signed a five-year lease with two five-year options. The financial terms of the deal were not released.