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Peters, owner of several businesses, including the popular Chama River Brewing Co. on "restaurant row" in Albuquerque, is investing in a spectacular expansion of his Santa Fe masterpiece eatery, the Rio Chama Steakhouse.

Rio Chama is strategically and conveniently located next to the Roundhouse and is the watering hole where legislators, lobbyists, the governor, legislative staff, reporters and political wonks and pundits choose to dine and unwind after a hard day of passing laws, writing and reading news releases or vetoing capital outlay projects.

While Nob Hill restaurants and bars in Albuquerque wrestle with height restriction ordinances, Peters has decided to move in a different direction - downward.

By about this time next year, Rio Chama will transform into a virtual compound of multilevel culinary pleasures.

The outdoor patio area of Rio Chama is being moved south on the property to accommodate an excavation that will result in an upscale, ground-level banquet hall to seat 80 to 100 people. The banquet facility will be equipped with state-of-the-art audio/visual capabilities, including an in-house sound system and drop-down screens for business meetings incorporating multimedia presentations or live entertainment.

Peters is building an exclusive 40-seat dining room below the banquet hall that will feature an elegant 10,000-bottle wine cellar. This dining area will be accessible by private elevator and set aside for VIPs and "reservation only." No walk-ins.

The downstairs menu is expected to be exquisite, with five-course meal offerings and wine pairings created by the executive chef. It's just what the Santa Fe lobbyists and legislators need: an underground jungle gym.

Private dining rooms in other parts of the restaurant will still be available for other members of the bourgeois.

Peters appears to be capitalizing on the public's fascination with below-the-surface hangouts. The state's premier dance club, Swig, also in the City Different and getting a face-lift, features a swinging, throbbing lower-level "red room," which is not for timid wallflowers. Even Albuquerque's Zinc has found success with this formula. Zinc's dark speak-easy in its basement is very popular with the Nob Hill crowd.

Rio Chama is bracing for a significant drop in business this summer as it temporarily forgoes its relaxing outdoor space while an archaeological dig convenes on the patio site. Once the renovation is complete, however, the outdoor crowd is expected to return in full force to enjoy a new patio with an outdoor fireplace and satellite grill that will accommodate 60 people.

The existing restaurant areas will continue to feature the beers and ales crafted by the restaurant's head brewer, Ted Rice, and a big-screen TV in the large barroom for sports fans. Live music is being considered on the weekends somewhere on the premises.

Another exciting development on the property is the possible conversion of the building next door (formerly Cristoff's), which Peters also owns and uses for group luncheons and other gatherings, into a retail outlet for cigars, beer, wine and possibly liquor .

Parking capacity for this mega-venture is being expanded and will include off-site valet service. Restaurant manager Randy Ropek says: "Our patrons will not be referred to as customers. They are our guests. We're not a bank."

Gerald Peters obviously has lofty aspirations for his Rio Chama restaurant, which is looking more like a multidimensional destination resort than a steakhouse, with something for everybody.

Bullington is senior policy adviser and director of New Mexico government relations for the Brownstein, Hyatt & Farber law firm. He writes this column weekly.