GOVERNOR PATRICK SIGNS LAW TO ADVANCE QUINCY REDEVELOPMENT PROJECT
Project to create thousands of jobs; leverage $1.6 billion in development
Governor Patrick signs a bill relative to the Quincy Center redevelopment project. (Photo credit: Matt Bennett/Governor's Office) View additional photos.
QUINCY -- Wednesday, May 25, 2011 - Governor Deval Patrick today joined Mayor Thomas Koch of Quincy and other state and local officials as he signed into law an act that will move forward the $1.6 billion urban renewal of downtown Quincy and create thousands of new construction and permanent jobs. Today's signing continues the Patrick-Murray Administration's commitment to strengthening the Commonwealth's communities and unlocking new economic development opportunities for public-private partnerships.
"This new law is a great example of how we're partnering with communities to ensure that state government is responsive to their needs," said Governor Deval Patrick. "By supporting this project we are ensuring the Commonwealth's long-term prosperity by supporting job creation, business growth and community development."
The new law facilitates the City's land disposition agreement with the developer for the redevelopment of Quincy Center. It will afford the City more oversight while utilizing the state's Urban Redevelopment Corporation program (MGL C.121A) by shifting certain approval measures from the Commonwealth's Department of Housing and Community Development to the Quincy Department of Planning and Community Development.
"I want to applaud Governor Patrick and Quincy's Statehouse Delegation for pushing this legislation forward," said Congressman Bill Keating. "The long-term impact of this initiative is invaluable."
"The Downtown Quincy project is good not just for the Quincy economy, but the economy of the South Shore, and the state as a whole," said Senator John Keenan. "The City, led by Mayor Koch, has crafted a strong plan that maximizes the economic potential of the Downtown area, while protecting the residents and taxpayers of Quincy."
"This legislation is the final step in approving this innovative public-private partnership which will revitalize downtown Quincy. The result will be the type of long-anticipated upgrade to Quincy Center that never could have occurred through traditional financing. I thank the Governor for his support of this critically important project for the City of Quincy," said Representative Ronald Mariano.
"The bill signing ceremony for House Bill 3337, An Act Facilitating Urban Redevelopment in the City of Quincy, is a historic moment that I am proud to partake in with the Quincy delegation and the City Officials of Quincy. With this bill being signed into law, the City of Quincy's marketable appeal will only enhance. The "New Quincy Center" will promote job creation and encourage new businesses to invest, develop and expand within the municipality. The expected modernized construction will create a foundation for new office space, restaurants, new housing units, hotels, retail space, and so on; which will bolster an increase in visitors, tourists and the migration of new residents into the City," said Representative Bruce Ayers.
"The signing of this bill is a very important step for the new downtown Quincy. My colleagues and I worked together for swift passage of this legislation," said Representative Tackey Chan.
"This Legislation helps us set in motion an unprecedented opportunity to create thousands of new jobs, spur more than $1 billion in private investment, rebuild our aging downtown infrastructure and reclaim Quincy Center as a vibrant economic engine for our community and the entire region," said Quincy Mayor Thomas P. Koch. "The Patrick-Murray Administration has without question made economic development and job creation in cities across the Commonwealth a top priority, and Governor Patrick's signature on this important Legislation makes that commitment abundantly clear. We are very appreciative of his support and the hard work of our state Legislative delegation."
"Investing in public infrastructure, along with education and innovation, has been a key component of Governor Patrick's growth strategy," said Secretary of Housing and Economic Development Greg Bialcecki. "The redevelopment of downtown Quincy is a prime example of the historic investments the Patrick-Murray Administration is making to support business development and community advancement for years to come."
StreetWorks, the designated developer, anticipates the project will require $1.3 billion in private investment, $289 million in city bonding and $50 million in state and federal funding to complete the redevelopment of 50 acres in downtown Quincy. The Patrick-Administration has pledged a commitment of $8.1 million in federal stimulus recovery funds to support Phase II of Quincy Concourse and $50,000 in Transit Oriented Development (TOD) grants for a study of a new public space/park connection between the MBTA Red Line station and the Quincy Center downtown area. Quincy's City Council has approved bonding for the project. StreetWorks expects to break ground on the project in 2013.