Developers chosen for MBTA’s North Quincy mixed-use project
QUINCY, Mass. (AP) — The Massachusetts Bay Transportation Authority has chosen two developers for the transit agency’s forthcoming mixed-use project based around the Red Line’s North Quincy Station.
The Boston Globe reports (http://bit.ly/1Ugq0EM ) the MBTA Fiscal and Management Control Board unanimously voted to grant lease rights for the development to a joint venture of Maryland-based Bozutto Development and Hingham-based Atlantic Development.
Bozutto/Atlantic’s winning bid would pay the MBTA approximately $230 million over the course of a 99-year lease for the $205 million project. Plans call for the construction of 579 housing units, retail space and a 1,307-space parking garage on the 295,000-square-foot property.
MBTA officials hope the development will increase access to public transportation and in turn boost ridership.
Permitting and design of the project is expected to take between one to two years.
Information from: The Boston Globe, http://www.bostonglobe.com