#QuincyIHOP About To Be Popped!

— Quincy Massachusetts News by Quincy Quarry News – News, Opinion and Commentary

Beginning the demolition process
A Quincy Quarry News exclusive image

The closed some months ago given yet anther eminent domain land taking by Quincy Mayor Thomas P. Koch so as to pour even more money into his admittedly to be running in the red redevelopment of Quincy Center, Quincy’s IHop restaurant is heading toward is headed to a landfill.

The loss of the IHOP is the second Quincy breakfast restaurant to be put out of business by landlords this year and so reducing locals’ options for slow food dining for the most important meal of the day as a fast food egg sandwich or wrap to go is just not the same.

Tommy — tell me what do you need?
A ThePeoplesVoice.org graphic image

More importantly, the site of the IHop was taken by the Koch Maladministration to build a parking garage and so do a solid for a long generous to the Koch campaign fund contributor along with his various family members.

The solid? 

Use taxpayer-funded debt to build a city-owned public garage so that developer will not need to build on his own dime all of the parking needed for his roughly three hundred unit apartment building that will include ground level retail and said to have developer-provided parking.

At the same time, when the developer might break ground remains to be seen. 

The Koch Administration’s finance team
An old Columbia Pictures image

For example, when the City Council was in the process of leading up to approving the taking of the property eleven month ago and so leading up to later approving a $157 million bond issuance last April that will largely be used to pay for building two parking garages in Quincy Center last spring, the developer for the apartment building project stated to the council last fall that he was ready to break ground on his development as early as now long past March. 

March, however, blew in like a lion and then past months ago but so far no further words have been uttered by the developer about a groundbreaking on a site that has long been rumored to be the home of a specialty grocer to be named latter given a non-disclosure agreement. 

Further, the developer flipped a similarly-sized unit apartment complex on Centre Street approved over two years ago and thus one can only wonder if the developer might be looking to perhaps also flip this approved, if not also well-greased, project within the Quincy Center redevelopment district.

Plus, lending terms for real estate development projects are still dear as well as expected to stay so for at least a while longer.

Further, the parcel slated for redevelopment still belongs to the City of Quincy per both city and Registry of Deeds.

Needless to say, Quincy Quarry News’ ever-growing legions of loyal readers can count on the Quarry to contnue to monitor this project and report updates as appropriate.

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