Is this famous dinosaur on the verge of extinction?

–John Blanding / The Boston Globe

For more than 50 years, an orange dinosaur has stood guard over the highway in Saugus and greeted those driving by with a full set of exposed teeth. But after decades as a local legend, the iconic king of Route 1 Mini Golf is in danger of extinction.

Michael Touchette, the owner of MT Realty based in Lynnfield, is in agreement to purchase Route 1 Mini Golf, and along with it, the orange dinosaur, the Saugus Advertiser reported. He said the property would be used for apartments and retail spaces like the others his company has developed in the area.

But can a dinosaur survive among luxury apartments and coffee shops?

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“We haven’t made a decision yet,’’ Touchette told Boston.com, speaking about the famed dinosaur’s fate. He said that would be decided at a town meeting, where he will speak with town officials about the property and what they might do with the 12-foot-tall orange dinosaur.

Despite all the talk, the dinosaur is not in immediate danger. Touchette must apply for and acquire permits for the project, meaning that the mini golf course and batting cages will stay open, and the T-Rex standing, possibly until next year’s season.

If Saugus was willing to keep a Hilltop Steak House’s giant cactus, why would a dinosaur have to go?

The Fays, who own Route 1 Mini Golf, did not immediately respond to request for comment.

Related gallery: 20 quirky New England landmarks

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