THE pearl Modern Spa & Boutique will begin operating out of the former Haven on the Lake space on the Columbia lakefront on July 12.
The Columbia Association, which leases the building from the Howard Hughes Corporation, had been actively working with commercial real estate services firm Cushman & Wakefield even before Haven on the Lake closed April 30, according to a CA news release.
Haven on the Lake, a wellness center with aquatics classes, Pilates and yoga, was closed due to budgetary challenges brought on by the ongoing coronavirus pandemic.
According to CA spokesperson Dannika Rynes, continuing to operate the wellness center, which opened in 2014, would lose the association more than $430,000 a year.
Discussions for THE pearl began in March; the sublease agreement required negotiation and several approvals, however, including the latest one from the Howard Hughes Corp.
The agreement will save the CA approximately $2.5 million over the remaining duration of the lease, according to the release.
“Not only will a beautiful space on the lakefront once again be occupied, but this development also allows [the] CA to follow through on our responsibility to be good stewards of our finances,” Lakey Boyd, who took over as CA president and CEO in May, said in a statement. “We are pleased THE pearl saw the potential of this space. We look forward to seeing our community once again be served in this capacity on the lakefront.”
The spa, which is celebrating 15 years in business this year, offers facials, manicures, massages, pedicures and classes including, barre, cardio and yoga, according to its website.
THE pearl is currently located in an 11,000-square-foot facility on Maple Lawn Boulevard in Fulton. That location will close at the end of the month. The new space on the lakefront is more than double in size at approximately 27,000 square feet.
“We are so grateful to both the Columbia Association and Howard Hughes for giving our small business this extraordinary opportunity,” THE pearl owner Kassi Buscher said in a statement. “It’s truly a dream come true for THE pearl. We have aspired to become a space of whole-self healing, and we look forward to being a pillar of wellness for downtown Columbia and the entire region.”