Quincy Center Redevelopment
Quincy’s impressive commitment to economic growth and revitalization is demonstrated by becoming the first city in the state to receive District Improvement Financing (DIF). This innovative state financing program allows the city to create a district improvement financing zone in Quincy Center and use “new” tax growth generated within the defined area to fund new public work projects such as roads, parking, green space and the Quincy Center concourse.
Steadfast in its efforts to stimulate development activity in Quincy Center, the City has also designated a Master Tax Increment Financing (TIF) program for the downtown. This means businesses investing in Quincy Center that create new jobs receive a 5% local real estate tax exemption and become eligible for a state tax credit.
Coupled with these financial incentives, the Quincy City Council has established a new Quincy Center Zoning District. Increasing the height allowances, easing density and parking requirements and a streamlined permitting process, the zoning district encourages mixed-use development that will add to the vitality of the downtown. Quincy Center Design Guidelines for the new zoning district have been adopted by the City’s Planning Board which will guide new development in the creation of a more pedestrian friendly and lively downtown. For a complete copy of the Quincy Center design guidelines please contact us.
The completion of the Quincy Center Concourse, increasing access to and from the downtown by linking Routes 3 and 3A, creates an urban boulevard that serves as a gateway to Quincy Center and opens additional parcels of land for public or private development. Making it easier for employees, shoppers, residents and visitors to get around downtown is key to its continued revitalization.
With over 10,000 people working in downtown Quincy today, Quincy Center plays a critical role in the local and regional economy. Building on a solid base, this redevelopment effort lays claim to an exciting future for the downtown.
Quincy Center is being reinvented, rejuvenated and redeveloped. The result will provide an urban, attractive, state of the art city, rich in character, history and amenities and most importantly attractive to the knowledge based employees critical to pharmaceutical, life science, and medical device organizations. Just 8 miles from downtown Boston, on the Red Line and with great vehicular and commuter rail access, the multi-billion redevelopment of Quincy Center boasts of over one million square feet of by-right zoning for laboratory research and biomanufacturing.
In addition, the downtown development will include new retail and service space, an entertainment center, medical center/wellness facility, higher education component, and over 1,500 residential units -- many with panoramic views of the waterfront. Within steps of the Quincy Center MBTA Red Line Station the new downtown is designed to be a first class urban environment providing companies with a strategic advantage in hiring and retaining the best talent.
For a brief description of the various development and infrastructure projects planned and/or under way click here.
Office of Economic Development: Quincy City Hall
1305 Hancock Street, Quincy, MA, 02169
Phone: (617) 276-1168
Downtown Development News
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31 Oct 2015
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