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Image courtesy of Arrowsreet
Construction of a 465-unit market-rate apartment complex called Ashlar Park is under way after a Quincy developer received $129-million in financing from Prvidence-based bank Citizens.
FoxRock Properties is developing the four-building complex at the 15-acre former Quincy Medical Center property. The first units are scheduled for completion in April 2023.
Designed by Boston-based architects Arrowstreet, the complex includes nearly 20,000 square feet of amenity space in a restored hospital administration building, with a multi-level club room and resident lounge, coworking space, a library and conference rooms.
Colliers International’s capital markets debt advisory team of Executive Vice President Jeff Black and Assistant Vice Presidents Bryan Koop and Sean Burke sourced the loan on behalf of the developer.
Demolition of the remaining former hospital buildings, spanning approximately 345,000 square feet, took place in 2021.
