MBTA Seeks Quincy Center Air Rights Developers

Quincy Center MBTA station air rights

The MBTA is seeking developers to build a mixed-use project above its 6.3-acre Quincy Center Red Line and commuter rail station property at 1300 Hancock St.

The transit authority asks developers with “significant experience” developing large transit-oriented projects to respond to a request for information by July 31.

The property includes air rights above the station, the rail right-of-way between Dimock Street and 194 Burgin Parkway and an option to build above the station’s bus terminal, according to documents issued this week by Massachusetts Realty Group, the MBTA’s real estate consultant. Potential elements may include office space, retail and housing as approved by the MBTA during the review process.

Recently completed apartment complexes in Quincy such as Deco, The Amelia and West of Chestnut are averaging rents of $3.25 per square foot, pointing to the city’s strong rental market, according to the document. And another 2,500 residential units are planned in the city.

“As the city of Boston continues to experience a wave of urbanization, suburban locations such as Quincy have directly benefitted by offering high-quality rental/condominium properties at a discount to Downtown pricing,” the solicitation states.

On the office side, rents in the south suburban market have risen for 13 consecutive quarters and currently average $22.97 per square foot, the highest since 2002, according to Massachusetts Realty Group. The firm is a partnership between Greystone Management Solutions and JLL.

The property includes a condemned parking garage closed in 2012, and demolition of the third through five floors is scheduled for this fall. The developer would be responsible for taking down the lower two floors.

In December, the Quincy city council voted vote to lease air rights to North Quincy Partners LLC at the North Quincy MBTA station. The developer is a joint venture by Bozzuto Group and Atlantic Development of Hingham.

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MBTA Seeks Quincy Center Air Rights Developers

by Steve Adams time to read: 1 min