According to Mary Jean Shultz, a representative of the town's zoning board of appeals, the board has received the developer's application for a special permit. The approximately 130-acre site is currently zoned for industrial use. The plan also has to be approved by the town's planning board.

Shultz tells GlobeSt.com that the new plan involves a mix of residential, commercial and office space. The site has been owned by Paul Trendowitz, who heads Sea Chain, for a number of years but concerns over density and size forced initial proposals to be scaled back. The shipyard has not been in use since the end of World War II and the shipyard buildings are currently being used as office space. There is also a marina on the property.