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 long awaited final phase of the Quincy Center concourse.

This financing program is the cornerstone of a multi-layered redevelopment effort spearheaded by Mayor Phelan and his Downtown Redevelopment Committee. 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. (Sample TIF agreement.)

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.
(Zoning Ordinance/Zoning Map/Downtown Vision)

The completion of the Quincy Center Concourse, increasing access to and from the downtown by linking Routes 3 and 3A, will create 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.

The possibilities in Quincy Center are evident from the on-going infusion of private investment. Munroe Place, a new 110-unit luxury apartment building with retail space on the first level is a welcome addition to the city’s landscape. The Presidents Place office/retail complex and residential units add significantly to the bustle downtown. Quincy Mutual Fire Insurance Company, long headquartered in Quincy Center, continues to add to its downtown real estate with the purchase of the 75 year old, 10-story former Fleet Building on Hancock Street. Stop ‘n Shop’s corporate headquarters employs almost 1500 people, while smaller projects bring many new ethnic eateries and cafes as well as residences.

The establishment of new zoning and financing incentives designed to stimulate economic development in downtown Quincy is already creating the benefits envisioned after only a few short months of adoption. Street-Works Development Group from White Plains, NY recently purchased the historic Granite Trust Building located at 1400 Hancock Street in Quincy Center. The property, purchased from Quincy Mutual Fire Insurance, includes the 10-story building, several adjoining one-level storefronts and a large parking area. Although there are no definitive plans in place, Street-Works has spearheaded several major mixed-use urban redevelopment projects throughout the country that blend office, residential and retail uses.

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.

For more information about the redevelopment project click here for DIF Executive Summary
click here, and for a recent Downtown
Newsletter click here.