The Town of Westborough has once again begun the process of trying to find a new purpose for its vacant Regal Cinemas movie theater.
At Town Meeting on Saturday, voters approved authorization for the select board to find a way to dispose of the property. The Town gained ownership of the theater through a tax lien foreclosure after it closed its doors in 2017.Â
The 29-acre parcel on Route 9, which includes a 12-screen theater, was built in 1997. The Town assesses the property at nearly $2 million.
With its renewed authorization, the Town’s select board has three options for the property. It can auction it to the highest bidder, identify a municipal use such as a new school or administrative building, or put out a request for proposals from developers.
Select board member Ian Johnson said on Saturday the board plans to put out a request for proposals, in hopes a developer will reimagine the dilapidated property. The main reasoning is to keep Westborough’s tax rates lower, as a municipal use would increase tax rates, Johnson said.
It won’t be the first time Westborough has tried to find an interested buyer for the property. In the fall of 2018, a movie theater operator based in Walpole was awarded the property through a winning bid of $5 million. That summer, however, the deal fell through, and the Town remained saddled with the vacant property.
On Saturday, voters also approved a $200,000 allocation for property upkeep, legal fees, and insurance.
Based on the affirmative vote to move the request for proposals forward, the board anticipates selling the property by fiscal 2023, Johnson said.
