Boatyard Bar & Grill is beloved in Annapolis’s Eastport neighborhood. The restaurant, which opened in 2001, is known for meaty crab cakes, convivial vibes and a location just off the water in this once-sleepy fishing village. But to fully appreciate the establishment’s glory, owner Dick Franyo wants to take me to the men’s room.

“Who’s got a bathroom like this?” Franyo said, stepping into one of the stalls, its walls lined with a carefully curated assortment of framed sailing photos and other maritime ephemera, and which fortunately happens to be empty at the moment.

Franyo’s pride in the bar he opened 25 years ago is palpable, and the feeling is mutual for many in town, who see it as a link to its rustic maritime heritage even as the neighborhood itself has gentrified and property values have soared.

Perhaps that explains why many in Annapolis were shocked this month to learn Franyo, now 81, was selling a majority stake in the business to Baltimore’s Atlas Restaurant Group, which is rapidly growing its presence in Maryland’s capital city.

“This was the absolute worst thing you could have done,” one Facebook user wrote on a post announcing the transfer. He vowed never to return. Others complained of inflated prices at Choptank, another Atlas-owned restaurant in downtown Annapolis, predicting the same for Boatyard.

“People are just so very, very concerned,” said Boatyard customer Karen Walsh after wrapping her arms around Franyo’s neck in a hug Friday.

For weeks, Franyo has done his best to reassure customers like Walsh that nothing will change at Boatyard. Even after the sale closes in February, he’ll remain involved in the day-to-day running of the business until he turns 85. His longtime general manager will stay on beyond that. He shared his personal cellphone number with customers on Facebook to answer any questions they might have.

Still, Atlas has developed a polarizing reputation during its 12 years in business in Baltimore and beyond. Critics often point to the company’s affiliation with Sinclair media mogul David Smith, the uncle of its founder Alex Smith, who is a partner in some Atlas restaurants.

The company has grown at a dizzying pace, opening new properties in Maryland and elsewhere in the U.S. Its expansion in Annapolis in particular has inspired angst in the city of just over 40,000 residents. Journalist John Frenaye, publisher of Eye on Annapolis, recalls the outcry in 2023 when it came out that Atlas was taking over the Pusser’s Caribbean Grille space. There was similar hand-wringing when the company announced its purchase of the Stevens Hardware building on Dock Street, where it’s soon bringing a branch of The Admiral’s Cup. The Boatyard sale, which Atlas first announced in early January, became “the drama du jour,” Frenaye said. “It’s big news for a small town.”

But it’s one he thinks is out of step with reality. In an editorial this month, Frenaye argued that Atlas deserves credit for investing in properties that in many cases would otherwise remain vacant. And while residents fret about the encroachment of big corporations and the city’s rapidly losing its small-town feel, the truth is that Annapolis is already becoming more unaffordable by the year.

In a text message, Atlas CEO Alex Smith emphasized that “we didn’t seek Dick out.” The company frequently partners with other restaurateurs who are looking to exit the business or retire. He added: “Dick is a friend, it’s my promise to him that we will honor what he’s built and take care of it long after he’s gone. I intend to keep my promise.” The company even plans to continue Franyo’s tradition of philanthropy in Eastport, hosting benefits for local charities.

Having worked as an Alex. Brown investment banker for 30 years before opening the Boatyard, Franyo said, he knew how to do his research when it came time to find his successor for the business. Other operators he spoke to, he said, were “looking to squeeze money” from the Boatyard in ways he felt would destroy its identity. Of all the prospective buyers, Franyo said, only Atlas was both willing and able to maintain the restaurant exactly as it is.

“My only goal was to do something where the Boatyard will never change,” Franyo said. “I’m confident that it won’t.”

Even, hopefully, the bathrooms.