The historic Stone Bank at 75 Main St. in Tisbury is set to become the town's newest eatery.
On Thursday, the Martha's Vineyard Commission voted 13-1 to approve the Martha's Vineyard National Bank to be converted into an 85-seat restaurant. Edgartown Commissioner Jeffrey Agnoli was the sole dissenting vote.
On Monday morning, contractors were carrying equipment into the stone building, preparing to work on the building's interior.
According to a commission staff report, the upcoming full-service restaurant will likely feature American cuisine consisting of "fresh foods sourced from the Island whenever possible, including raw shellfish." Most of the hot foods will be either sautéed or grilled, with a limited number of fried menu items.
The project is being pursued by developer Reid ("Sam") Dunn, who previously told The Times he plans to open the restaurant by summer 2025. He also opened the seasonal 70-seat taqueria El Barco on 16 Union St., located behind the Main Street building, in July.
Commissioners found that the project would have an overall positive impact on the area. They reasoned the project would preserve most of the exterior character of the historic 1905 building, and the new restaurant is expected to create jobs and generate tax revenue for the town.
Still, the commissioners acknowledged the potential negative effects on abutters, pointing to "some degree of noise and aroma" that may come from restaurant delivery, trash collection, and food preparation. Additionally, abutters may be subject to some nighttime sounds, as the business would be open from 5 pm to 11 pm.