Home News ‘Nova Hancock’ would add hundreds of apartments in Quincy

‘Nova Hancock’ would add hundreds of apartments in Quincy

by admin
0 comment

KellyGarrity-Boston.com Correspondent

July 27, 2022 9:50 am

New homes are under construction in downtown Quincy during a period of very low vacancy in the city.

Quincy-based developer LBC Boston will build a six-story 215-unit residential and retail building on Hancock Street in 1562 and 1570, next to developers’ Nova Suites and Nova Quincy apartments completed in 2019. I submitted the plan earlier this year. In late 2020, thanks to a land disposal agreement approved by the city council, LBC purchased the site and another nearby parcel (known as R3 and R2, respectively) for about $ 5 million. Patriotic ledger reported..

The latest LBC project, Nova Hancock, will include studios, one-bedroom and two-bedroom apartments, as well as 12,330 square feet of retail or restaurant space on the ground floor. application It was submitted to the Quincy Planning Committee in April.

The mixed-use building also features several facilities, including a fitness center, common room, collaborative work space, dog park, and project architect David Snell. Told the planning committee At the meeting on May 11th.

The development plan is materialized at a time when Quincy housing is hard to come by.With a recent update Quincy’s Home Production PlanThe Metropolitan Planning Council reported that the city’s housing supply was not keeping up with demand.

“The city has allowed thousands of new housing units in recent years, but rents and selling prices are much higher than many in Quincy can afford.” Report To tell. “Quincy’s vacancy rate has been well below the” health “rate for some time and continues to decline,” the Metropolitan Planning Council wrote.

In addition to residential and commercial space, the plan requires the creation of an underground car park with 65 parking spaces.Total Parking space for 108 cars Residents will be able to rent – ​​an additional 43 lease From the nearby Quincy Center Garage, public car park on 50 Libya Road.

For residents who prefer pedaling to driving Bicycle room on the 1st floor In addition to the building, there is also an outdoor bike rack.according to letter Building residents submitted by the City’s Department of Transportation, Parking, Warning and Lighting to Deputy Planning Officer Rob Stevens in April are not eligible for a resident parking pass or street parking in the district.

This project is one of two new buildings planned by LBC for Quincy. Another Nova Water Street is also expected to begin construction this year, with five floors and will include 54 studios, 1 bedroom and 2 bedroom units. LBC website..

According to the latest iteration of applicationUpdated May 3, the project is expected to cost approximately $ 50 to $ 55 million.

However, the 215 units expected to be brought by the building will be unavailable for some time. Once the plan is complete, it will require 4-5 months of site preparation followed by 22-26 months of construction.and May plan a board of directorsMargarita Kvacheva, CEO of LBC, has promised that LBC will hire local workers for construction.

Subscribe to the newsletter pages.email.bostonglobe.com/AddressSignUp.. Follow us on twitter @globehomes..

You may also like