Street-Works Development LLC has selected CBRE-Grossman Retail Advisors (GRA) as the retail broker for the $1.6 billion downtown Quincy revitalization.
There's nothing typical about the Quincy plan: 3.5 million s/f of new development woven into Quincy Center's streets, anchored by shops and restaurants and enlivened by office workers, college professors and students, modern health and wellness options, loft living for young singles and families, as well as homes for empty-nesters eager to return to an urban environment.
The financial agreement underpinning the plan is equally bold offering an unprecedented model for how public and private sectors can work together to create something real and well suited to today's economic times. Quincy's investment of public funds will only occur after this plan produces new tax revenues - the taxpayers will not bear the financial responsibility of this rebirth. With the development risk solidly on the shoulders of the developer, it will put over 10,000 people to work and will create substantial new revenue for the city and the state.
CBRE-GRA will assist the Street-Works Development LLC team in securing tenants for the 700,000 s/f of restaurant and retail space within the 50-acre redevelopment. The urban revitalization is one of the largest of its kind in the country. The available retail space will vary in sizes, ranging from 2,000 s/f up to 140,000 s/f. The retail program will be centered on a variety of retailers, a mix of restaurants, wellness and fitness components, entertainment venues and large format tenants that will anchor the project.