The grand vision for a revitalized Quincy Center came to a screeching halt last October, but there may be signs of life downtown.
QUINCY – The grand vision for a revitalized Quincy Center called for two luxury apartment buildings to be up and running this fall, with new retail and office space soon to follow. And that was just the first piece of a $1.6 billion project aimed at transforming downtown into a bustling commercial hub.
But those plans came to a screeching halt last October when Street-Works, the city’s master redevelopment partner, stopped construction after losing the confidence – and funding – from private investors. Left behind was a gaping excavation hole, glaring questions about what went wrong and an air of pessimism hovering over Quincy Center’s future.
One year later, though no new buildings have been erected, there may be signs of life in Quincy Center: a new landlord has ambitious plans to attract well-known restaurant chains; the investor in control of the first block of redevelopment says it will soon unveil new plans; and a pair of merchants are bucking the trend of downtown businesses closing by opening new ventures this month.
Last month, businessman Andrian Shapiro purchased the downtown building that houses 1-13 Cottage Ave. and 1500-1530 Hancock St. for $4.1 million. Shapiro on Friday said he’s renovating the lodging house at 3 Cottage Ave., and he’s trying to attract chains such as Panera Bread and Five Guys Burgers to fill the storefronts.
“It’s a beautiful opportunity, and there’s going to be a lot of money to make here,” Shapiro said.
Next to Shapiro’s property, the former Presidents Rock Club, which faces the Hancock Parking Lot, will open up as a new establishment later this month. David Keville, the owner of Presidents Rock Club, which closed in July because it wasn’t generating enough revenue, plans to reopen it under the name Kelly’s Cellar with a new menu, a more open layout with a central bar and a stage that welcomes all musical genres, not just rock.
“There’s a massive upside (to Quincy Center), and you’ve just got to fight through the downside right now,” said Keville.
On Friday, Angelo’s Coal Fired Pizza opened at 1657 Hancock St., the former site of Remick’s and Finian’s restaurants. Brian Leonard, the food and beverage director at Granite Links Golf Club, is the owner of Angelo’s.
“We’re committed to the downtown area, and hopefully we’ll be part of the revitalization,” Leonard said. “The more quality places that open, the more people will consider going to Quincy Center.”
The stalled first block of downtown redevelopment, nicknamed Merchants Row and made up of Chestnut Street, Cottage Avenue and the 1400 block of Hancock Street, is under the private control of Quincy Mutual Fire Insurance, one of the investors that had been backing Street-Works. Quincy Mutual has said it will finish Merchants Row, which includes new residential and retail buildings, but it has been unclear on when construction will resume.
On Thursday, Ernie Corrigan, a spokesman for Quincy Mutual, said an announcement is coming. “We hope to make an announcement relatively soon about what we expect to be happening,” he said.
Earlier this year, Mayor Thomas Koch ended the city’s partnership with Street-Works after the master developer failed to meet project benchmarks. Koch said he’d push forward with redevelopment on a block-by-block basis, rather than dealing with one master developer.
In July, Koch hired Redgate Real Estate Advisors of Boston to be Quincy’s downtown redevelopment consultant. Redgate is expected to file a report with the city in the coming months.
Source: http://www.wickedlocal.com/article/20141013/News/141018903