Specifications include, but are not limited to: The Town of Swampscott requests Proposals from parties interested in developing and owning a lodging facility at the Hadley Elementary School building (“Property”) located at 24 Redington Street in Swampscott, Massachusetts. This is an adaptive reuse opportunity. We consider this to be a unique opportunity because of the location and physical attributes of the asset, its proximity to the Atlantic Ocean (including unobstructed views), the asset’s proximity to demand generators in the market, and the opportunity for a developer to create a unique and impressive hospitality asset. The Town will not lease or sell the Property for any other use than a lodging facility with associated accessory uses and parking. The Town’s primary objective in issuing this RFP is to facilitate the development of a new hotel in Swampscott to support significant local and regional demand and enhance Swampscott’s historic waterfront. While revenue generation is always important, the Town sees potential hotel tax revenue as the most critical source of revenue for the Town. To that end, the Town is willing to entertain deal structures (including, for example, real estate tax concessions) that facilitate successful execution of this hotel redevelopment.
