QUINCY: THE FUTURE IS NOW. Mayor Thomas P. Koch Quincy Chamber Leadership Series Breakfast. June 2018 Economic Development Update

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1 QUINCY: THE FUTURE IS NOW. Mayor Thomas P. Koch Quincy Chamber Leadership Series Breakfast June 2018 Economic Development Update

2 City of Quincy Mayor Thomas P. Koch Quincy City Hall Office of Economic Development 1305 Hancock Street, Quincy, MA Phone: QuincyMa.gov The Economic Development Agency of The Quincy Chamber of Commerce Quincy Chamber of Commerce Quincy 2000 Collaborative Discover Quincy 180 Old Colony Avenue, Quincy, MA Phone: TheQuincyChamber.com DiscoverQuincy.com

3 I am very proud to join with our partners at the Quincy Chamber of Commerce to introduce this report on what is truly an unprecedented time for economic development in our great City. Inside, you ll find a snapshot information on a broad range of private development either completed, underway or scheduled within the next few years. For those of us in government, we have a great responsibility to create the foundation for this kind of economic expansion. Together as a community we have made great strides over the last several years in building that foundation. From new schools, to roads and bridges, to new parks and protecting our historic assets, the City of Quincy is creating opportunity, jobs, and fostering the remarkable growth we are seeing today. All this while protecting and improving the neighborhoods that will continue to make Quincy one of the most stable and attractive cities in all of the Commonwealth in the years to come. I hope you find this report informative, and please do not hesitate to contact me directly if I can be of assistance in any matter. Thomas P. Koch Mayor I am equally proud to join Mayor Koch and his economic development team at City Hall to report on the status of the projects completed as well as those being constructed, designed and planned in the unprecedented redevelopment of downtown Quincy. The Quincy Chamber has worked closely with Mayor Koch and the city to foster growth to meet the changing needs of our city of almost 100,000 residents. Thousands of new housing units have been constructed, or are in the process of being built. Many are situated downtown or near MBTA stations as the city has and continues to take advantage of state funding that encourages and supports Transit Oriented Development (TOD). This residential housing boom is soon to be followed by a dramatic increase in commercial office buildings on the site of the former Ross Parking Garage. This new development is being currently envisioned as a Medical and Life Science Office Park that will rival similar developments in Boston s Seaport area and Cambridge s Kendall Square. Quincy is poised for a dramatic rebirth as a 21st century city that combines special recreational features such as the Quincy Shore Reservation and the Blue Hills with charming, hidden neighborhoods; an unrivaled history of great political and business leaders along with the best modern amenities to live and work in anywhere in Massachusetts. Tim Cahill President & Executive Director Quincy Economic Development Update Introduction 1

4 About Quincy Quincy Shore Reservation, sailing at Black s Creek Granite Links Golf Club Garden view of Peace field, the summer White House of 2nd U.S. President John Adams and the Presidential Library. Building upon an authentic and vibrant history the City of Quincy is well positioned to strengthen its presence as a destination community to live, work, visit and invest in. Recreation and Cultural Amenities Blue Hills Reservation Whether a person likes the beach, boating, rock climbing, golfing, hiking, the arts, ethnic festivals, shopping, history, or dining out, his or her cravings are sure to be satisfied in Quincy. The popular Quincy Shore Reservation area includes boating facilities, swimming accommodations, parks and many eateries where one can enjoy fresh seafood and a panoramic view of Quincy Bay. Quincy is also home to three golf courses, including Granite Links which was voted one of America s Top 100 Golf Courses and Top 50 Best 19th Hole by Golf Digest Magazine. Known as The City of Presidents, Quincy is the birthplace of one our nation s founding fathers and second president John Adams, and our sixth president John Quincy Adams, as well as legendary patriot John Hancock. The Adams National Park Visitor Center located in downtown Quincy welcomes visitors from around the world. Within the heart of the over $1 billion redevelopment of Quincy Center is the Church of the Presidents soon to be surrounded by the Hancock Adams Common. Church of the Presidents With 27 miles of coastline and access points to the 7,000 acre Blue Hills Reservation recreation area, one is sure to find a walking trail or vista to enjoy. You can rock climb, 2 About Quincy Quincy Economic Development Update

5 hike, have a picnic or just take in the scenery of the largest open space within 35 miles of Boston. Known as the dining capital of the South Shore, Quincy offers everything from steaks to pasta to ethnic cuisine available in the variety of eateries found in the city s many neighborhoods and business districts. Housing As a coastline community, Quincy has a wide array of housing opportunities with exceptional views of the ocean, Quincy Bay, and Boston Harbor. Whether your lifestyle beckons a 10th floor urban setting within a vibrant downtown environment; a cape-style attached townhouse along the waterfront; a single family home in one of Quincy s many tight-knit traditional neighborhoods; or a more rural setting bordering the natural beauty of the 7,000 acre Blue Hills Reservation recreation area, you will find it in Quincy. Marina Bay Boardwalk overlooking Quincy Bay/Boston Harbor. to biotech and life science companies such as commercial sites designated for their uses, streamlined permitting, convenient access, and abundant sewer and water capabilities. Quincy follows the National Institutes of Health Guidelines on rdna research, providing a predictable environment that welcomes biotech and life science facilities. Transportation Quincy has four MBTA public transportation stops, commuter rail service and direct access to many interstate transportation corridors including I-93, I-95, and routes 128, 24 and 3 providing easy access north, south, east and west. Commuting in and out of Quincy is convenient. Health and Education Quincy is home to two higher education institutions: Quincy College and Eastern Nazarene College. Both provide numerous undergraduate and graduate degree programs. Quincy College has a Biotechnology and Compliance Curriculum to service this fast-paced and growing industry. Eastern Nazarene is a fully accredited traditional liberal arts college. Quincy is also within a 15-mile radius of over 30 colleges and universities, including MIT, Harvard, Boston University, Northeastern, Tufts, UMass-Boston and more. Park Street Savin Hill Fields Corner Shawmut Ashmont Quincy s MassBio Platinum Rating The City of Quincy has a Platinum rating by MassBio, the highest rating for a community seeking to attract and support biotech and life science companies. The Platinum rating recognizes Quincy as a city with features that are specifically attractive Quincy Economic Development Update About Quincy 3

6 THE DOWNTOWN PLAN Residential & Commercial Development Up to $1 billion in new residential and commercial development projects are being built or proposed creating approximately 4,000 residential units and potentially one million sqft. of commercial space. The following section identifies a variety of residential, commercial and government backed infrastructure and development projects currently under construction, permitted or completed in the City of Quincy. Hancock Adams Common The Hancock Adams Common project represents a $15.7 million initiative to create a first-class civic space boasting a tree-lined promenade, robust and contemplative fountain elements, and is bookended by bronze statues of founding fathers and Quincy-born John Hancock and John Adams sculpted by a world-class artist. This park is located between City Hall; Hancock Cemetery, the final resting place of generations of the Adams and Quincy families; and the Church of the Presidents, sanctuary of the presidential crypts of John and his wife Abigail and John Quincy and his wife Louisa Catherine. In addition to serving as a passive respite in the center of downtown, Hancock Adams Common will become the stage for a host of events and activities such as outdoor concerts, food truck festivals, and much more. Project Name: Hancock Adams Common Project Location: Quincy Center Start Date: Spring 2017 Completion Date: September 8, Residential & Commercial Development Quincy Economic Development Update

7 Spring 2018 West of Chestnut Cliveden Place Project Name: West of Chestnut Project Location: Chestnut/Cottage and Hancock Streets Primary Development Team: Quincy Mutual Insurance Co. and Gate Residential Properties, LLC Project Website: WestofChestnut.blogspot.com Start Date: April 2015 Completion Date: September 2016 QUINCY MUTUAL GROUP Project Name: Cliveden Place Primary Development Team: Galvin Company Project Website: GalvinConstruction.com Project Location: 18 Cliveden Street (West Tower) Start Date: June 2016 Completion Date: June 2017 Project Location: 2 Cliveden Street (East Tower) Start Date: August 2017 Completion Date: August 2018 Mechanic Lofts Nova Residences of Quincy Project Name: Mechanic Lofts Project Location: 18 Mechanic Street Primary Development Team: Heritage Companies Start Date: September 2015 Completion Date: June 2017 Project Name: Nova Residences of Quincy Project Location: 1505 Hancock Street Primary Development Team: LBC Boston LCC Project Website: LBCBoston.com Start Date: September 2017 Completion Date: June 2019 Quincy Economic Development Update Residential & Commercial Development 5

8 Residential & Commercial Development Chestnut Place 111 Washington Street Project Name: Chestnut Place Project Location: Current Hancock Parking Lot Primary Development Team: Peter F. O Connell Start Date: Summer 2018 Completion Date: Early 2020 Project Name: 111 Washington Street Project Location: 111 Washington Street Primary Development Team: Galvin Company Project Website: GalvinConstruction.com Start Date: February 2017 Completion Date: January 2018 Hancock Garage Brookside Hillside Residences Project Name: Hancock Garage Project Location: Dennis Ryan Parkway & Revere Road Primary Development Team: Lee Kennedy Project Website: LeeKennedy.com Start Date: 2018 Completion Date: 2019 Project Name: Brookside Project Location: 999 Hancock Street Primary Development Team: Boston Property Ventures Project Website: BostonPropertyVentures.com Start Date: 2016 Completion Date: April 2017 Project Name: Hillside Residences Project Location: 21 Bridge Street Primary Development Team: Boston Property Ventures Project Website: BostonPropertyVentures.com Start Date: June 2017 Completion Date: September Residential & Commercial Development Quincy Economic Development Update

9 Spring 2018 Quincy College/Presidents Place Improvements Granite Trust Building Project Name: Presidents Place Project Location: 1250 Hancock Street Primary Development Team: Boston Andes Capital LLC and Related Beal Project Website: PresidentsPlaceQuincy.com Start Date: December 2012 Completion Date: September 2018 Project Name: Granite Trust Building Project Location: 1400 Hancock Street Primary Development Team: Boston Andes Capital LLC and Related Beal Project Website: RelatedBeal.com Start Date: Fall 2017 Completion Date: Early 2019 Fore River Bridge Generals Bridge Project Name: Fore River Bridge Project Location: Quincy Center Investment: $244 million Funding Source: State/Federal Start Date: 2014 Completion Date: Opened June 2018 Project Name: Generals Bridge Project Location: Quincy Center Investment: $11 million Funding Source: State/Federal Start Date: 2019 Quincy Economic Development Update Residential & Commercial Development 7

10 Transit Oriented Development Deco Elevation Apartments at Crown Colony Project Name: Deco Project Location: 675 Burgin Parkway, Quincy MA Primary Development Team: Cabot, Cabot & Forbes Project Website: CabotForbes.com Start Date: June 2014 Completion Date: May 2016 Project Name: Crown Colony Apartments Project Location: Marriot Drive, Quincy, MA Primary Development Team: John Flatley Company Project Website: JohnFlatleyCo.com Start Date: October 2015 Completion Date: October 2018 Only the beginning What you have seen in this report is only the beginning of the changes in store for our city. There are currently two comprehensive Transit Oriented Development (TOD) projects being proposed for both the Quincy Center & North Quincy MBTA stations and surrounding real estate in various stages of permitting before city and state officials. In addition, Mayor Koch, the Planning Board & the City Council are working with a private developer on the future use and potential build-out of both the old Quincy Hospital site as well as the Ross Parking Lot and surrounding real estate on the Parkingway. Once permitted and approved, all of the developments will add a much needed commercial, residential and retail component to four important and vital tracts of land in our city that are in close proximity to public transportation. Each project individually, and as a whole, have the potential to make positive and lasting change to those who live, work, commute and shop in Quincy for generations to come. 8 Transit Oriented Development Quincy Economic Development Update

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