I agree that the son is a very nice guy.

My understanding is:

The father (still running Pepe's) got 2.79 Million
for the old Laredo's on 63rd (It had an assessed appraisal
of 645K!!!!

I have no direct confirmation of this, but have been told
that the son got 800K of that to buy the land for the new
Laredo's and the father made clear that his contribution was OVER...

In the interim, the younger financed a part of the land and lined up a bank loan for construction, but then blew a portion
of the 800K, had to pay gains tax on the 800K and ended up way way short of what he needed to make his 50% installment to his General Contractor on this 2.2 Million dollar building....

That is when they shut down the job...

So:

The father will do fine, he got 2 million for a 600k restaurant.even after his gift to his son for the land but....the son likely will take a bath and end up without a restaurant at all....

It's funny.....walking up to Pepe's in Edmond is an eyesore, and the interior looks like 1975 literally (most likely was last remodeled in the 70s (no kidding)

but they are still churning out 5.99 enchilada platters
as fast as they can make them and I feel certain the old
man is doing well with that location....

The young whippersnapper had visions of grandeur and almost executed a fine fine restaurant, but I feel certain that people still would be expecting 5.99 enchilada dinners there....
They really need to move upscale with that location based on what they're spending on real estate.....I just don't think Laredo's typical clientele would be enough to support a 3 million plus mortgage....that is "if" he can line up an investor to finish the dream so to speak....