Margarita Mama's and Banana Joe's, two once-famed then-closed Channelside restaurants, will find new life when they re-open in Downtown St. Pete's historic Kress Building by the end of this summer season.

The historic structure, located at 475 Central Ave. (intersection of 5th St. and Central Ave.), will house a new, 8,000 square foot Margarita Mama's on the first floor where a rug store currently resides and a Banana Joe's in a 2,500 square foot location in the basement.  Both establishments closed their Channelside locations back in 2009.

According to Michael Dennis, spokesman for Margarita Mama's and Banana Joe's, there will be live acoustic music appearing on a daily basis and an ample sidewalk dining area to complete the tropical vibes both these establishments we're known for.

Margarita Mama's was known for it's casual environment and Mexican cuisine while Banana Joe's established itself as a nightlife bar and dance hub in Channelside.

Following a 2005 scandal involving two Carolina Panthers cheerleaders engaging in a "sexual act" in a Banana Joe's bathroom stall, restaurant officials hope to avoid repeating a similar situation and are gunning for a "more upscale crowd" at each of these new locations.

We'll keep you posted as more news arises regarding these new restaurants in St. Petersburg.