Board Walk Residences at Marina Bay
Redgate sells site to Hines Interests
Here is a quick re-cap of what has transpired at Marina Bay. Last year Redgate RE Advisors working on behalf of Flagship Marinas (the owners of The Ocean Club at Marina Bay site and two boat storage warehouses to the rear) permitted two sites. That is, they went before the Quincy Planning Board and after a year of filings and public meetings were permitted to build two residential buildings with 18,000 SF Commercial Space on the ground floor. Both buildings when constructed will add a total of 352 high end apartments to the Marina. An additional shuttle bus operated by the developer will be added to shuttle residents to the North Quincy T.
The Ocean Club at Marina Bay has not been renewed their lease. Flagship Marinas who holds the license has reserved the right to find an alternative operator/venue at the site since the license can produce revenue for Flagship. In the future the license is expected to be used by a restaurant on the ground floor of one of the new buildings.
It was recently announced that one of Redgate's partnerships sold the permitted properties at Marina Bay to Hines Interests. This is a significant development in that Hines has the financial strength to complete construction on the site. Hines Interests in a privately owned international RE firm with real estate interests in 110 cities around the Globe.
At the moment the detail construction drawings are being drawn. It is expected site development work might be seen as early as July but more than likely by the Fall.
TD Bank Moving Forward
TD Bank is getting closer to constructing a new bank branch at the intersection of Hancock Street and E/W Squantum St.
I was recently contacted by the attorney representing TD Bank. He informed me that the properties have finally been acquired to allow for TD Bank to construct the Bank. The properties in question are the Sunoco Gas station across from the Walgreens, Keohane Funeral Home next to the Sunoco across from the Knights of Columbus Hall, and the two family home next to the Sunoco across from the North Quincy T.