June 1, 2023
Boston Business Journal
WS to redevelop Cape Cod shopping plaza, bring in Whole Foods
Chestnut Hill-based WS Development is expected to soon begin construction work on the redevelopment of Capetown Plaza in Hyannis, with Whole Foods set to come in as an anchor tenant at the property.
WS plans to do for the 55-year-old plaza, located next to Cape Cod Gateway Airport and long known for its Kmart, what it has done for retail centers like Legacy Place in Dedham and MarketStreet Lynnfield: create a higher-end shopping destination with outdoor spots for customers to sit and linger.
The retail real estate developer first took over the ground lease at the 26-acre property, which is controlled by the Barnstable Airport Commission, in 2011. The town selected WS to redevelop the site in 2018, but progress was delayed by the pandemic, said Amanda Chisholm, development director at WS, at a public information session on Tuesday evening. WS is rebranding the site as The Landing at Hyannis.
Now, WS has a building permit in hand for the first phase of the redevelopment and sees construction as imminent, according to Chisholm. Floor & Decor is already building out its new space in a portion of the former Kmart, she said.
Whole Foods has signed a lease at the plaza, with Chisholm saying the grocer should be a “great driver for additional leasing opportunities.”
The first phase of work will include improving facades, interiors and landscaping on the property, including by adding trees, as well as creating a common “green,” or an outdoor gathering spot similar to what WS has at complexes like Legacy Place. A second phase would include the construction of new buildings and more site work, though no housing is planned, in part because the Federal Aviation Administration typically frowns on putting residences on airport-owned property, Cape Cod Gateway manager Katie Servis said.
WS owns more than 22 million square feet of real estate, including a large chunk of buildings in Boston’s Seaport District, with another 9 million square feet under development.
By Greg Ryan
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