JV Breaks Ground on Mass. Mixed-Use Development
A groundbreaking ceremony was recently held for Merchants Row, a mixed-use development in the Quincy Center in Quincy, Mass. The project was made possible in part by $55 million in equity financing secured by LaSalle Investment Management.
Quincy, Mass.—A groundbreaking ceremony was recently held for Merchants Row, a mixed-use development in the Quincy Center in Quincy, Mass. Street-Works Development LLC, Suffolk Construction Company and the City of Quincy are developing the property.
Street-Works and The Beal Companies, with LaSalle Investment Management, secured more than $55 million in equity financing for Merchants row.
Merchants Row will include 287 loft units in two buildings called the Kilroy and the Granite Trust lofts. Additionally there will be 35,000 square feet of retail and 24,000 square feet of office space, which will be located in the Granite Trust building.
The construction will take place in conjunction with the execution of the new Adams Green public space, which includes the area where John Adams, John Quincy Adams and their wives are buried.
“I’d like to thank everyone who had faith in our vision for a revitalized Quincy Center,” Mayor Tom Koch said during the groundbreaking ceremony. “Today’s groundbreaking is the culmination of years of careful planning and sustained momentum. Everyone here had a role to play in brining this vision to fruition, and the City of Quincy is grateful for the tremendous partnership that has worked together for many years to help make downtown Quincy an exciting 21st century destination.”
Merchants row is expected to be completed in 2014.
