Business, News

Lynnfield Ship sails into oblivion

LYNNFIELD — Plank by plank, the Ship Restaurant floating along the horizon of Route 1 is expected to be torn apart in the next two weeks.

Ted Regnante, a local attorney representing developers who plan to construct retail space in its place, said asbestos remediation and the crafting of a rodent control plan has delayed the demolition of the iconic building.

“But the plan is going forward,” said Regnante. “They have been working with a contractor and within the next week to two weeks, they will start demolition of the ship.”

The property is owned by Ship Mall LLC, a division of Allston-based Micozzi Management Inc. It was last purchased in 2007 for $16.5 million.

Plans include a 2,500-square-foot freestanding branch building for East Boston Savings Bank, 7,500-square-feet of retail space, and a 2,500-square-foot drive-up restaurant and coffee shop.

Once the demolition commences, Regnante estimates the entire project will take about four to five months.

A bit further down Route 1, the construction of a 68-unit condominium project at 2 Broadway is slated to begin at the start of September, said Regnante. The building will be comprised of mostly two-bedroom units and is expected to take about a year to complete. Regnante believes the combination of the two projects will enhance the area and create a more usable space and foot traffic for businesses.

Last spring, the Lynnfield Historical Commission voiced support of the project, once architectural plans for the plaza including several touches meant to honor the legacy of the nautical-themed building were unveiled.

The mast and other characteristics of the ship, including windows and glass on the second floor, the existing eagle and six stars, and the red and blue color scheme, will be included in the new construction.

“We’re creating some mementos for people to remember and people are excited about it,” said Regnante. “I think it’s going to be very successful.”

More Stories From Lynnfield