Boston – LBC Boston has secured financing for a new mixed-use development project that will revitalize Quincy Center and connect with other developments in the area. The company secured financing for a $28-million construction to permanent mortgage from East Boston Savings Bank.
Dubbed Nova Residences of Quincy, the seven-story, 153,000sf apartment building located in the 1500 block of Hancock Street will feature 15,000sf of retail and restaurant space at street level and 171 units above. A large glass atrium will connect the apartment building, Hancock Street, and a parking garage behind the building that is currently inaccessible from Hancock Street.
Project team members include: developer, LBC Boston; architect, SN Consulting; civil engineer, High Point Engineering; and construction manager, D.F. Pray.
Before any work on the building can begin, the project requires the rerouting and replacing of a portion of the town brook that runs underneath the block. Working closely with LBC Boston, construction manager D.F. Pray has diverted the channel, installed a temporary bypass system and demolished the original culvert.
Culvert Phase 1 is complete, culvert Phase 2 is underway, and foundation work has begun.
The foundation will support five stories of light framing over a two-story post-tensioned concrete foundation featuring podium and slab-on-grade construction. The cost-effective, higher-density podium construction will maximize space at the street level and the number of stories above.