Went there last night for the first time and we were very impressed. The quality of the food, portions and prices are all outstanding. This restaurant has been mentioned many times on this board and for good reason. I had 2 Colombian dishes (tamales and steak Colombiano) while my wife had 2 Cuban (empanadas and roast pork) and all were excellent. One can easily eat here for $15-20 pp for three courses! As far as the neighborhood goes, we did NOT feel unsafe at all.
This would indeed make a great place for the DDC to go as it could easily fit a large party. I stopped into Berlengas Island (a few blocks away) and this place was much smaller and had even more of an ethnic feel to it. You might be able to fit 20-25 people in the dinning area on the bottom floor.
We will be returning to Tierra Colombiana, often I'm sure, and would also like to try the nightclub which opens at 9pm on weekends.