Barnstable Chooses Proposal for Cape Town Plaza Redevelopment

BARNSTABLE – The Town of Barnstable has chosen a proposal to redevelop the Cape Town Plaza, also known as the Kmart Plaza, on Route 132 in Hyannis.

WS Development’s proposal for the 26-acre parcel, which is under the control of the Barnstable Municipal Airport, was recommended by an RFP Evaluation Committee as the best use of the land.

The 49-year lease would bring the airport a total of $131 million.

The other proposal from Wilder was for $22 million over the life of the lease.

Airport Manager Katie Servis says the proposal stood out financially and was community focused.

“WS identified working with local partners such as Love. Live. Local. to introduce different types of entrepreneurs to the site,” Servis said.

“We liked that component of it that they really reached out and tried to capture a Cape-specific entrepreneur to enable them to be part of the development of that site.”

The town will be working to finalize two documents with the developer.

The first agreement is a placeholder that identifies what development will occur and gives the firm the opportunity to start the design plans, permitting and outreach.

“That agreement period takes place until the [current] lease expires in 2024,” Servis said.

The new lease would then take effect in 2024.

The next steps for the town will be to sign the agreement and then the new lease, which also need to be approved by Town Council.

“I think this is going to be very important, not only to the airport, but to the town, to revitalize that space and recreate some new excitement in that corridor,” Servis said.

Servis believes the current property is outdated and that updating the facility will be beneficial to the community.

“It’s really looking at the facility with a whole new light and a whole new approach to how shoppers and the community really want to see a space like that,” she said.

The town’s Request for Proposals placed an emphasis on considering retail uncertainties and economic development.

“It’s not all about shopping. It’s about an experience,” Servis said. “And that is what they are going to create here.”

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