SAUGUS, Mass. (AP) — A new restaurant may soon rise on the site of the Hilltop Steakhouse, but the iconic giant neon cactus will stay.

Attorney Peter Rossetti Jr., who represents the site's owners, tells The Daily Item of Lynn (http://bit.ly/1xdmK1U ) that there is an arrangement to sell the 14-acre site on U.S. Route 1 in Saugus, provided certain conditions involving zoning and licensing are met.

He says the developers plan an upscale restaurant at the site as well as retail and residential space.

Rossetti says one condition of the sale, planned for completion by year's end, is that the cactus stays.

The Hilltop closed last year after more than 50 years in business. It was famous for the cactus as well as the fiberglass cows outside and dining rooms named after stagecoach stops.

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Information from: The (Lynn, Mass.) Daily Item, http://itemlive.com