FAQ: The New Quincy Center Downtown Development
- Who is actually doing the downtown development project? The City of Quincy has undertaken several significant planning efforts in recent years to set the stage for the redevelopment of Quincy Center. A community supported vision with associated design guidelines, infrastructure improvements, pedestrian amenities, zoning restrictions, streamlined permitting and financial incentives is in place to support private sector investment and development. Street-Works Development, LLC from White Plains New York has been selected to partner with the City as the master developer for the project. Street-Works has invested over $10 million to purchase properties and undertake planning studies within the Urban Redevelopment District, and has set up offices at 1400 Hancock Street.
- How much will the development project cost and who is paying? Total build-out is anticipated to cost $1 billion of private sector investment and $280 million in public sector investment. Of the public costs, approximately $50 million is expected to be in the form of Federal and/or State Grants. Public sector investment will go to the replacement of aging utility infrastructure throughout the downtown, the construction of new parking facilities and associated infrastructure improvements such as sidewalks, roadways and a series of new public gathering places, including the new Adams Green, to support the development. Public funds will be generated through bonds that will be paid back, not by the city taxpayers, but through new higher taxes on the proposed development and parking fee revenues after full build-out is complete.
- Will the city generate new revenues after full build-out is completed? Beyond the taxes devoted to bond repayment, the project is expected to generate an additional $3.5 million in new commercial taxes after full development is complete.
- What is the Urban Redevelopment District (URD)? The Urban Redevelopment District (URD) is a 55 acre section in the heart of downtown Quincy identified as the primary redevelopment zone. Defined Boundaries and project parameters are identified in the URD document which can be viewed in the City Planning Department located at Quincy City Hall. The URD received approval from the Commonwealth of Mass., providing the city with enhanced access to state and federal funding assistance.
- What is the Land Disposition Agreement (LDA)? The Land Disposition Agreement (LDA) is a legal document between the city of Quincy and Street-Works Development on the manner in which public land and financing is to be incorporated into the development plans for the project. Public parcels that are slated to be part of the LDA include the Hancock Parking Lot and Ross Parking Garage. The agreement entails ownership rights, financial commitments, development guidelines and responsibilities by both entities. The Quincy City Council will review and approve the LDA agreement.
- When is construction scheduled to begin and how long will it last? The project will undertake an extensive permitting process prior to any construction. It is anticipated that construction within the defined Urban Redevelopment District (URD) will begin in 2013, and will last between 8-10 years.
- Will the public have an opportunity to comment on the development plans before construction begins? The project will undertake an extensive public permitting process prior to any construction, providing numerous opportunities for public review and comment.
- What buildings are scheduled to be torn down? Private ownership - not the City of Quincy - will determine what, if any, buildings are to undertake demolition.
- Is the One Maple Street building (corner of Chestnut Street & Maple Street ) coming down? This building was recently purchased by Quincy Mutual Fire Insurance Company and will be taken down in the Fall 2010. The property is outside the URD and current plans are to maintain the property as open space until a redevelopment plan is established.
- What part of the downtown is to be under construction first? The project will have several phases, however it has not been determined which phase and area of the downtown will be developed first.
- How tall can any new building be? The URD defines specific height allowances that range from 20 stories in the heart of the district with a special permit from the Planning Board and 10-15 stories in adjacent areas within the district.
- Will local contractors/residents be given priority for work on the project and if so, how many? The City has entered into an agreement with Street-Works Development that targets 25% of the construction jobs to Quincy residents and local companies. This would result in an anticipated 1,055 out of the total 4,222 jobs created will be for local residents.
- Where can I find the most up to date information on the project? Information can be found in the City of Quincy Planning office, or on the following web sites: NewQuincyCenter.com; QuincyMa.gov, TheQuincyChamber.com.