LEWISTON — He figures bikes and old buildings and downtowns just fit.

John Grenier is picking up his Center Street bike shop and moving it to Lisbon Street. He plans a soft opening for Rainbow Bicycle & Fitness in July and a grand opening around Labor Day in the former Drapeau’s costume shop, space that’s been vacant for long bouts since Drapeau’s moved out in 2007.

“Lisbon Street intrigued me because I’m from Lewiston, I grew up in Lewiston and I remember when Lisbon Street was thriving,” Grenier said. “I’m 52. If I’m going to do this, it’s got to be now — all the stars have aligned.”

Grenier has leased his building at 945 Center St. in Auburn for five years. Before that, it was farther out Center Street. An avid biker, he’s owned the company since 1999. He’ll have more space at 97 Lisbon St., trading 3,800 square feet for 5,600. Part of that will become a new cafe.

“Cyclists are really into coffee,” he said. “It’ll have a European cafe feel to it.”

He plans to offer light fare — bagels, muffins, cookies — and coffees, with a couch, chairs and tables, a big screen TV playing cycling videos and WiFi. He said he wants to create a comfortable meeting space and a spot where bike rides start or stop and people can hang out and talk about the ride.

He’s still trying out names but said he likes the sound of Rainbow Bike & Beans.

In addition, Rainbow will offer six to eight indoor cycling classes a week from October to March in the new space. Between the coffee shop and expanded service, he sees hiring at least three more people.

Grenier said he found the former Drapeau’s building in the fall and was the only person to submit a bid during a foreclosure auction. His bid was too low, but he and the bank later agreed on a price. The sale closed Dec. 29. He declined to reveal the purchase price or the amount he’ll invest in renovations.

“The building is definitely tired,” Grenier said. “I’m going to put more into the building than what I paid for it.”

He wants to retain its look and feel. Grenier remembers the building as the old Reid & Hughes clothing store when he was a kid.

“The thing we’re going to have to overcome is the perception of parking,” he said.

Customers can leave cars on Lisbon or Canal streets, behind the building on Canal or in one of two nearby parking garages. They can also drop bikes off for service on Canal Street.

More than growing his business, Grenier said he’d like to be part of re-growing the downtown.

“If I could become the first retail anchor where it would make other merchants (say,) ‘Look at that, huh, I wonder if there’s a spot for us . . .'” he said. “There’s no reason why Lisbon Street can’t be a thriving retail center again.

“My customers are really excited about this. They remember Lisbon Street, they have pride in their community still.”

Lincoln Jeffers, assistant to the city administrator, called Rainbow “exactly the right kind of retail” for the area.

“It’s just a great business, great following,” he said. “Success builds upon success. When Eric Agren wanted to open a restaurant down there, people thought he was nuts. Change is incremental. Lisbon Street has turned the corner and continues taking steps.”

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