Revamp of closed Walnut Creek restaurant may create new dining spot

WALNUT CREEK — The shuttered downtown Walnut Creek Yacht Club is poised to become a larger dining establishment if its owner wins city approval for a wide-ranging revamp of the property.

Ghaben Inc., a family-run restaurant company, is floating plans with the city for a redevelopment of the property at 1555 Bonanza St. The firm owns the site through an affiliate and has proposed replacing the Yacht Club with what would be called Oceania Restaurant, Walnut Creek planning documents show.

At the corner of Bonanza Street and Locust Street, the family’s affiliate paid $3.8 million to buy the property in July 2025, Contra Costa County real estate records show.

The existing two-story building totals about 4,800 square feet. The remodel, upgrade and expansion would result in a building totaling 6,300 square feet.

The Ghaben family also intends to add an outdoor dining area, city documents show.

“The exterior remodel includes new paint, awnings, mosaic tiles, and a decorative metal screen system over portions of the building and windows,” Walnut Creek planners stated.

The entryway for the restaurant will be fully redone.

Inside, the existing dining area is slated to be expanded, plans show. A full remodeling is envisioned for the dining, kitchen and restroom areas. New offices are expected to be built on the second floor.

The Yacht Club restaurant closed its doors in May 2025, ending a 29-year run.

Ghaben Inc. owns and operates nearby restaurants such as Lita at 1602 Bonanza St. and Broderick Roadhouse at 1548 Bonanza.

Executives with Ghaben Inc. have been tight-lipped about the type of cuisine that might be offered.

“It’s going to be the next hottest thing in Walnut Creek,” Mike Ghaben, an executive with Ghaben Inc., said of the proposed new restaurant in an interview with this news organization. “Walnut Creek has become the hub of these very different concepts within a lot of ethnic backgrounds.”

It wasn’t immediately clear when the new restaurant might open should city officials give final approval to the proposal.