Cambridge Waterfront Development Inc. shared some good news that it has reached an agreement with Pinnacle Hospitality on the main business terms for a hotel at Cambridge Harbor. Lawyers are now finalizing the purchase and sale agreement. It is not a done deal yet, but it is another clear step toward getting a hotel built on the waterfront.
Pinnacle is a company based in Ocean City with experience managing hotels in coastal areas. Its portfolio includes the Cambria Hotel Ocean City Bayfront, the Cambria Hotel Rehoboth Beach, Hampton Inn & Suites Ocean City West, and Country Inn & Suites Ocean City. It also manages the Anchor Inn and Marina Bay Hotel & Suites in Chincoteague. This provides the company with experience operating both national brands and smaller waterfront properties.
The board also approved applying for a $2 million state grant to begin the public infrastructure needed for the hotel. The work would include drinking water and fire suppression lines, sidewalks, landscaping, streetscape improvements, and underground utility connections. CWDI estimates the hotel could represent roughly $40 million in private investment.
The meeting’s main friction involved transparency. CWDI is moving away from a formal request-for-proposals process and is instead using its real estate broker to talk with developers. Residents questioned whether good ideas might be rejected before the public ever sees them. CWDI says early talks must remain confidential to protect developers and negotiations, but that serious plans will still be subject to public review.
The Cambridge Planning Commission will take up part of that issue during a public work session on Monday at 1 p.m. The commission is expected to review the approval process, design standards, and the public’s involvement as Harbor projects move forward. The hotel may be getting closer, but the argument over when the public gets to see the plans is not going away.
This report was prepared from the public meeting and transcript, with AI used to help identify the major topics. The final story was reviewed and edited by the Spy.
The entire meeting can be viewed here.
2 Responses
Who is getting the big pay back for this and where would the parking be? Is the boat ramp staying? What is the big pay out for Dorchester Cambridge gonna get from this or is it all big shots behind the doors like always
So they will get a great view of the big ships being repaired…..and all the noise that goes along with that! A view of a closed down restaurant and a great potential of juveniles messing with them or their vehicles!
How is winning here?!