Barnstable Seeking Proposals to Redevelop Capetown Plaza

HYANNIS – The town of Barnstable and the Barnstable Municipal Airport are seeking proposals from developers for the Capetown Plaza on Route 132.

The current 50-year lease for the plaza, which is owned by the town and controlled by the airport, generates $70,000 a year for the airport and has 6 years remaining.

According to the Request For Proposal, the town is seeking a “mixed-use” development that might take housing, economic development and retail uncertainties under consideration.

“We’re looking for the highest and best use of the property and fair market value,” Breault said. “Whatever the proposals are that are being proposed will help determine what that is.”

Proposals for the 49-year lease are due by the end of August and a decision is expected by the Airport Commission and Town Manager after a review by December 31.

Breault says opportunities like this don’t come around too often.

“This is an opportunity that is only going to happen once for the next 50 years to get a large piece of 26-acres of, hopefully, highly sought after commercial property in the heart of Hyannis.”

The new lease would begin in 2024.

If the current leaseholder, WS Development, submits a proposal and is chosen, Breault said they would be able to start redevelopment as soon as possible.

Another chosen developer would be able to negotiate a buyout with WS Development for the remainder of the existing lease.

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