After less than two years in its new Lowry Hill home, Bradstreet Neighborhood Craftshouse is calling it quits, effective immediately.

"The current Bradstreet property, located between Hennepin and Colfax Avenues in Lowry Hill, had originally been purchased with a future housing and retail development in mind," said Jim Graves, chairman of Graves Hospitality and CEO in a statement. "Recent changes to the Lowry Hill strategic development overlay hastened the desirability to bring that phase to fruition. The new neighborhood criteria changes along the Hennepin corridor enable project opportunities that take advantage of the highest and best use of the space."

The influential bar -- widely credited as an early pioneer in the local craft cocktail movement -- got its start in 2009 in the Graves 601 Hotel in downtown Minneapolis (pictured, above, in a Star Tribune file photo), and relocated to the former Rye Deli (and, before that, Auriga) space at Hennepin and Franklin after Graves Hospitality sold the hotel in 2014 to Loews.

It's named for John Bradstreet, an early Minneapolis designer. The plan is to reopen the bar for a third time, as one of three food-and-drink operations in the InterContinental Hotel that Graves now has under construction outside Terminal 1 of the Minneapolis-St. Paul International Airport. Look for a summer 2018 opening.