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Boston & New England  + Metro Boston  + Apartments  |  April 12, 2022
A $128.7-million construction loan to FoxRock Properties will transform the former Quincy Medical Center into Ashlar Park multifamily community in Quincy, MA.
Lisa McDuffie
By: Lisa McDuffie

$129M Construction Loan to Transform Quincy Medical Center to Multifamily

Colliers has arranged $128.7 million in construction financing for Ashlar Park, a 465-unit, Class A, transit-oriented multifamily community currently under construction at the site of the former Quincy Medical Center in Quincy, MA.

A Colliers of Jeff Black, Bryan Koop and Sean Burke worked on behalf of Quincy-based FoxRock Properties to secure a senior construction loan through Citizens Bank, N.A.

Ashlar Park’s market-rate units will span four wood-framed residential buildings with 590 parking spaces, several acres of community green space, and 19,500-square-feet of amenity space housed within the restored Quincy Medical Center Administration Building. The campus will include pool and fitness center, outdoor spaces filled with winding paths and retreats and well coworking space with a library and conference rooms.

The 15-acre site is 1/2 mile from the Quincy Center MBTA Station for a 12-minute commute to downtown Boston and 25-minute trip to Kendall Square.

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About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.
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