The Abby Update 04/05/16

MBTA approves transit oriented development deal at North Quincy Red Line station

At yesterday's board meeting, the MBTA approved a 99-year lease of an 852-space parking lot at North Quincy station to a development team comprised of Atlantic Development and The Bozzuto Group. The development team would construct a $205 million mixed-use development containing residential units and retail space.

The development team would pay the MBTA a total of $230 million over 99 years and build a new parking garage on site. The deal would raise the City of Quincy's yearly property tax revenue by $1.6 million.

The proposed development has not yet been approved for construction by the City of Quincy. A rendering of the proposed development is posted above. More information about the proposed development is posted below.

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