| On Tuesday, Quincy's Mayor Koch signed a land disposition agreement for the $1.2B makeover of the city center. (Serving as human spell-checkers by his side: NY-based Street-Workspartners Ken Narva and Richard Heapes.) The redevelopment plan calls for 1M SF of new offices, 700 housing units, two hotels, a cinema/ entertainment complex, and 575k SF of new retail/restaurants. The massive overhaul—projected to create 4,100 construction jobs and 5,700 permanent jobs—also requires the private developer to build $227M of public infrastructure. Once the buildings are occupied and generating revenue, the city will purchase the infrastructure, including parking garages, from Street-Works. The city and developer arrived at this reversal of the usual redevelopment model after three years of negotiations. Next, Street-Works will complete permitting and design, with construction targeted to start in ?13. |
Quincy Mega Project Moving
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Mayor Koch, Richard Heapes
