Beverly Gets One Proposal To Redevelop Waterfront Property

BEVERLY, MA -- The city received one response to a request for proprosals issued earlier this fall to develop a restaurant on a city-owned, waterfront property. MAB Management Corp. called for building a three-story, "upscale casual" restaurant called the Boathouse. Under the proposal, the restaurant would receive a 50-year-lease from the city. MAB also operates Mission Oak Grill in Newburyport and Mission on the Bay Restaurant in Swampscott.

If accepted, construction would begin late next year and the restaurant could open in the fall of 2020. In September, the city put out the request for proposals and said it may offer incentives to developers to fill the McDonald's that has been empty since it closed in 2006. The incentives include five years of property tax breaks, including no property taxes for the first two years after the restaurant opens.

"The city has owned the property for over 20 years and not derived any property revenues from it," Beverly Mayor Mike Cahill said at the time.

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Dave Copeland can be reached at dave.copeland@patch.com or by calling 617-433-7851. Follow him on Twitter (@CopeWrites) and Facebook (/copewrites).