Quincy to accelerate revitalization
Quincy city councilors have endorsed a plan to accelerate the downtown revitalization, which will build a residential/retail section in the city center before other promised private development.
Councilors discussed the issue Monday, combing through the relatively small financial implications of the deal and the larger physical ones.
The plans call for construction to begin next February or March in an area called Merchants Row, a $120 million development that would include two residential lofts, office space, and a renovated Granite Trust building.
The accelerated development would go in the existing Fat Cat parking lot and encompass a block of buildings between Hancock Street, Chestnut Street, and Cottage Avenue.
Under the new agreement, the developer would owe the city more in new growth taxes for the first phase of the project.
The accelerated schedule is mainly a response to the marketplace.