MANHATTAN, N.Y. (PIX11) — The iconic Loeb Boathouse in Central Park could be reopening this summer, officials said Thursday.

Legends Hospitality has agreed to spend more than $3 million to operate the venue over the next decade, according to Mayor Eric Adams. If the deal is approved by the city’s Franchise and Concession Review Committee (FCRC), the boathouse could open by summertime, officials said.

“The Central Park Boathouse has been a landmark for generations of New Yorkers,” Adams said. “When it closed last year, many worried about its future, but our administration moved quickly to keep this piece of New York City history alive.”

The Loeb Boathouse, which opened 150 years ago, officially closed on Dec. 31 after the former operator,  Dean J. Poll, said he was forced to shut down the venue due to rising costs of goods and labor.

New York City Parks Department then launched a search for new operators before accepting Legend Hospitality’s $3.2 million bid, officials said. As part of the deal, the company has agreed to maintain the restaurant, snack bar, and boat rentals.

“Legends is honored to be selected by NYC Parks to operate the iconic Loeb Boathouse in Central Park,” Legends Hospitality President Dan Smith said.

Legends Hospitality will go before the FCRC for a public hearing on March 3.