Westborough fields proposals for former Regal Cinemas property

WESTBOROUGH — Vacant for nearly five years, the former Regal Cinemas building on Route 9 appears to have multiple options for its future.

Town officials put out a request for proposals on Monday, and they received four bids from three prospective buyers, with each intending to do something different with the former cinema space.

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The building, at 231 Turnpike Road in the Stagecoach Plaza, was acquired by the town earlier this year after the previous owner failed to keep up with tax payments. Regal Cinemas has been leasing the space since 1997.

The former Regal Cinemas site has been vacant since 2017.

The largest bids, by far, came from Atlanta-based PulteGroup Inc., one of the largest homebuilders in the country. It submitted two bids — one for $7.94 million and another for $6.5 million — to demolish the cinema building and construct 108 condominiums, which would not be age-restricted.

PulteGroup stated that its higher bid is being submitted in case the town requires that at least 10% of the units be designated as affordable, while the lower bid value would apply if the town madates that 20% of the units are affordable.

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Essentially, the company is stating that it is willing to pay nearly $1.5 million more for the right to construct fewer affordable units.