Interesting,
e_r! The bouquets on the sign, I think, provide the clue as to what the namer was thinking about
: The name refers to the 'American Beauty' rose, introduced as such in 1886:
Deutsches Rosenbuch, 1889, p. 183.
The name came to be a generic term used by florists to indicate long-stemmed red roses of perfect form; but the original was as above.
(There's a longstanding controversy about whether or not the 1886 rose was actually a re-introduction of an 1875 French rose 'Mme. Ferdinand Jamin'. I'm firmly of the opinion that it was
not a reintroduction, as differences between the two roses were noted at the time.)
And the
new restaurant is on . . . Rose Avenue.