Quincy IHOP Reduced to Rubble

— News about Quincy Massachusetts from Quincy Quarry News with commentary added.

Dining at the IHOP®!
An IHOP® image

Quincy’s IHOP® has been reduced to rubble to make way for another sure to be money-losing parking garage that is planned to be built for Quincy Mayor Thomas P. Koch’s arguably foundering redevelopment plans for Quincy.

How foundering? 

Last spring parties tied to the Koch Machine admitted on the record at a city council meeting that Mayor Koch’s long-ongoing and variously delayed plans are going to run upwards of $25 million in the red in coming years before steady positive revenue might be happen in a couple of decade or so and then need to continue positive for decades more to offset the negative.

A disgruntled taxpayer
A file photo image

In the meanwhile, the negative will have to be covered by taxpayers.

So what the for years Quincy Mayor Koch announced that the Quincy Center redevelopment project would be self-financing.

Even worse, Quincy Quarry’s quants have projected as much as a low nine-figure accrued negative by around 2040 with reimbursement of the negative taking until 2060 or thereabouts, if not longer as in potentially much longer.

In the meanwhile, Quincy has lost another popular local breakfast venue and which provided a positive tax revenue however admittedly modest. 

There was talk that the IHOP® was going to move to a venue nearby, however, so far Quincy Quarry has seen no clear signs that such is going to happen.

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