When Quincy, Mass.’s new downtown shopping district is officially unveiled, the City will host some of America’s premier retail destinations — thanks to a first-of-its kind joint venture between Street-Works Development and National Realty and Development Corp., based in Purchase, N.Y.
The partnership was announced on Sept. 21 by the City of Quincy, Street-Works and NRDC.
“This is a tremendous win for Quincy,” said Mayor Tom Koch. “We are fortunate to have such a powerful force in the retail industry investing their expertise, time and resources in developing two major blocks of our downtown. NRDC is committed to creating the type of shopping, dining and entertainment options our community would like to see, and I’m excited to be working with them on this major piece of our redevelopment project.”
NRDC will joint venture with Street-Works in the development and leasing of approximately 400,000 sq. ft. of anchor retail space at Market Center.
“Our belief in the importance of vibrant downtowns has made us eager to enter the urban market in an authentic and meaningful way,” said Robert Baker, chairman and CEO of National Realty and Development Corp. “It is very clear that Quincy and Street-Works have given birth to the new paradigm of urban redevelopment, and we have every faith that together we will create a very successful new Quincy Center.”
New Quincy Center is a $1.6 billion transit-oriented, master-planned, mixed-use development in Downtown Quincy that will include approximately 700,000 sq. ft. of retail space, one million sq. ft. of office space, two hotels, 1,200 residential units and over 5,000 new structured parking spaces. The City of Quincy is strategically located eight miles south of Boston, offering direct access to Route 128/95, I-93 and the region’s T-system Red Line.
“NRDC is committed to development in the urban space and we are very excited and focused on making the new Quincy Center a success,” stated John Orrico, president of NRDC. “Our team will be working very closely with Quincy and Street-Works to bring real results to this project — both on the ground in Quincy and by drawing from our national network of retailers.”