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District, Chamber and GREDF to buy 501 Hampshire

District, Chamber and GREDF to buy 501 Hampshire

2 weeks, 4 days ago by Scott Hardy

All three organizations will be under one roof

Three Quincy-based economic development agencies say they plan to move to a new building on Washington Square. 

The District, The Quincy Area Chamber of Commerce and The Great River Economic Development Foundation announced Wednesday they've formed a joint venture to buy the building at 501 Hampshire Street in Quincy. The three organizations say they've entered into an agreement to buy the building from Gray Media, the parent company of WGEM-TV. The groups say they'll all move into the building, and expect to close on the sale by the end of the year.

Quincy Area Chamber of Commerce Board Chair Michelle Miller said in a statement that by being under one roof, all three organizations plan to streamline services and "provide a centralized hub for businesses and community members to access vital resources and support.” District Board President Jason Traeder said the move benefits the nonprofit organization, and the more than 300 businesses that call downtown home. Although the organizations will be in the same location on the Square, all three will remain independent organizations with separate governing boards. The three organizations will also keep the property on the tax rolls.

Gray Media plans to use their nearby property at 513 Hampshire for their broadcast operations. 

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