Quincy City Council gives the green light for more upper level apartments in downtown.
At Monday’s meeting, aldermen approved spending 150 thousand dollars TIF funding for upper level apartments for the vacant building at 123 North 4th Street and 127 North 6th Street.
Between the two buildings, officials say there could be a possibility of six new apartments.
“For every market rate apartment the estimate is about $15,000 market value of capital spent in the downtown, said Quincy City Planer Chuck Bevelheimer. “That gets invested into services, hospitality and groceries.”
Also at Monday’s meeting, aldermen agreed to extend the term of the central business district west TIF redevelopment project for an additional 12 years.
The park district and John Wood are set to look at this resolution within the next week or so.