One of the core principles of Street-Works Development is creating multifaceted neighborhoods that meet the needs of those living in the communities and also those who visit and work there. Street-Works neighborhoods are reflective of historical downtowns with new modern elements, each piece - residential, retail, commercial, wellness, education and open space - building upon the others, resulting in a successful working, living, breathing, functioning community. The creation of neighborhood offers the opportunity to deliver a sense of home and a sense of place; a perfect marriage of what is familiar with a uniquely Street-Works vision.
New Quincy Center is a $1.6 billion transit-oriented, master planned, mixed-use development in downtown Quincy that will include 750,000 s/f of retail space, one million s/f of office space, two hotels, 1,200 residential units and over 5,000 new structured parking spaces. The City of Quincy (known as the "City of Presidents") is strategically located eight miles south of Boston, offering direct access to Rte. 128/95, I-93 and the region's T-system Red Line.
In Street-Works' mixed-use projects, each element is developed individually but with the purpose of creating a new neighborhood that works as a whole. A well thought out mixed-use retail program will also increase market demand above and beyond what general market forces suggest. For New Quincy Center, the goal is to create an active 24/7 neighborhood that meets the daily and weekly needs of those that work, live and shop here. It is not a lifestyle center or regional mall. New Quincy Center will attract customers from greater distances (vs. the typical community mix) due to the mix of retail paired with unique public places and compelling street experiences. In addition, planned enhancements to the Adams National Park visitor center will create a desirable tourist attraction for many who already visit the area's historical sites.
In keeping with its tradition of creating great urban places, Street-Works Development LLC has developed a merchandising strategy for retail space within New Quincy Center that will be primarily focused on neighborhood/community services and food tenants along with large format retail anchors, entertainment tenants, and restaurants. All uses within the project will cater to users who live and work in and around New Quincy Center, its surrounding neighborhoods and adjacent communities as well as the visitor population that visits downtown Quincy and its historic sites each year.
Since the fall of 2010, Street-Works has been working with CBRE/Grossman Retail Advisors on the initial phase of leasing at New Quincy Center focused on retail tenants that will complement each other while supporting the other elements of the development. While the world of retail has changed during the recent economic downturn, the New Quincy Center project has been well received, given its opening timeline (2015), the lack of available large format retail space in the Quincy/Braintree market, desirable demographics and access and visibility of the New Quincy Center project.
As we move into the summer and fall months of 2011, Street-Works and CBRE/GRA will continue the leasing efforts on New Quincy Center keeping in mind that the goal is to create a live, work, play shop community.
Diana Chace is the senior director, leasing for Street-Works Development LLC. Diana creates market, merchandising and development strategies in addition to providing in-house leasing and property management services. With 20 years of experience in the retail industry, she offers an extensive network of tenant and landlord contacts across the country.