Quincy Center Station Air Rights Update 11/30/17
Quincy Center Station air rights development could feature office space and over 600 apartments
The Massachusetts Bay Transportation Authority (MBTA) has received two bids to develop 6.31 acres of air rights over Quincy Center Station, and is recommending the selection of a proposal to construct over 600 apartments in addition to 225,000 square feet of commercial space. The development would be constructed by a joint venture of Hingham-based Atlantic Development and Bozzuto Development of Maryland, who are also the proponents of a transit-oriented development at the North Quincy MBTA station that will break ground in the second quarter of 2018. The MBTA’s Fiscal and Management Control Board will formally vote on the Quincy Center proposal in an upcoming meeting.
The proposed project would be completed in three phases, starting with $20 million in station and infrastructure upgrades, 300 apartment residences, retail space and about 250 parking spaces that would open in 2023. Phase Two would involve replacing the top three floors of the existing, shuttered station parking garage with 300 additional apartments and 365 parking spaces, which would open in 2027. Phase Three, opening in 2031, would construct a 225,000-square-foot office building and potentially additional parking atop the MBTA rail right-of-way. At least 10% of apartments would be designated affordable.
Atlantic and Bozzuto would pay the MBTA $167 million over a 99-year lease in order to construct the development. An initial $34 million payment would be made for the project’s first phase. A second air rights development proposal received by the MBTA from JAG Northeast Development of Virginia would pay a $6.3 million lump sum and construct 326 apartments, 13,200 square feet of retail and 14,500 square feet of office space, in addition to 324 parking spots.