What's old is new again for the Cape Cod Central Railroad in Massachusetts, as one of the co-founders acquired the property last Friday.

Former railroad president and co-founder John Kennedy has formed a small group of investors, including Alfred Michon, a North Falmouth rail consultant, Andrew Reardon, an accountant, and Christopher Podgurski, owner of a Canton septic and underground utility construction firm, to acquire the Cape Cod Central.

The Cape Cod Central Railroad offers sight-seeing tours as well as luncheon and dinner trips between Hyannis and the Cape Cod Canal.

Kennedy, a former engineer for Bay Colony Railroad and Amtrak, helped launch the current railroad in 1999 and served as president until 2002. "I really wanted to come back and make sure it was given the attention that it deserves," he said. "We were concerned that it might close."

Ridership on the tourist road has declined steadily during the past six years, however revenue steadied after a series of cost-saving measures allowed the previous owners to reduce operating costs.

Kennedy plans to make about $100,000 worth of maintenance updates and renovations, including making room for more passengers on trains and reducing the number of trips, he said. He also wants to revive special wintertime tours including a gala New Years Eve event. The winter trips were cut in 2003 in effort to curb expenses, Doherty said.

Service is tentatively slated to begin by Easter weekend.