LBC Partners wants to build a seven-story apartment building in the Hancock lot block.
Patriot Ledger | By Sean Philip Cotter
February 22, 2017
QUINCY – Developers have scrapped the idea of building a seven-story hotel in the 1500 block of Hancock Street in Quincy Center in favor of constructing an apartment building there of the same size.
LBC Partners of Boston presented to Quincy’s city council on Tuesday night a plan to build 171 apartments over 15,000 square feet of commercial space at 1500 Hancock St., which the organization already owns
Alex Matov, a principal at LBC, said that LBC hired a hotel consultant, who ultimately told the developers that the Quincy Center market would not support a hotel at this point.
So they plan to build a 153,000-square-foot, seven-story mixed-use building that the company is tentatively calling Nova Residences of Quincy, keeping the name similar to the 28-room Nova Suites long-stay hotel next door at 3 Cottage Ave., which LBC also owns.
Matov said that 36 apartments on the building’s second floor would be designed such that LBC, which would continue to manage the property, could easily turn them into hotel rooms if the market demands it, with the rest of the building remaining as is.
The city council will vote on whether to accept a land-disposition agreement that’s been drawn up by LBC and Quincy Mayor Thomas Koch’s administration.