Capetown Plaza Developer Selected

HYANNIS, MA – Barnstable officials have selected a firm to redevelop the Capetown Plaza. The chief procurement officer for the town on Tuesday submitted the recommendation for the award to WS Development, which currently holds the lease to the site.

The award is contingent on acceptable terms of the agreement and lease and the town council approval of the term. WS Development was selected by the Barnstable Municipal Airport's evaluation committee. The land is owned by the Barnstable Airport Commission.

Two proposals were submitted to redevelop the 26-acre property on Rt. 132, known as Kmart Plaza. WS Development's $45 million proposal was called "The Landing at Hyannis" and included more than 300,000 square feet of retail, restaurant, residential and open space, the Cape Cod Times previously reported. It also featured office space in some buildings to promote job creation.

Under the proposal, Kmart would stay through the end of its lease, and the space could remain as-is for another anchor store or be subdivided for smaller tenants.

"The Evaluation Committee found that although both firms were determined to be fully qualified, proven and experienced, the Committee unanimously agreed that WS Development was the most highly advantageous proposing developer based on the strength of their proposal and a substantially higher financial offering for the long term lease that was is in alignment with the assessed value of the property," Airport Manager Katie Servis said in a statement.

Previously: Capetown Plaza Redevelopment: 2 Proposals Submitted

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