The Town of Barnstable has selected a developer for the commercial property Cape Town Plaza, a.k.a. Kmart Plaza.
The 26-acre town-owned property, under the custody and control of the Barnstable Airport Commission, will be developed by WS Development contingent upon acceptable terms of the Agreement, Lease, and Town Council Approval of the lease terms.
The property was leased and commercially developed in 1968 by WS Development. In anticipation of the 2024 expiration of that lease, a Request for Development Proposals (RFP) was issued on April 26, 2018. Besides the incumbent developer, The Wilder Companies of Boston submitted a proposal to develop the property.
Barnstable officials say after an extensive evaluation process and discussions by the seven-member Evaluation Committee and supporting town staff with both developers, 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.