From Boston Business Journal:
The grand redevelopment of Quincy center may be on ice, but at least one Boston developer is proceeding with plans less than a mile away on a 180-unit apartment complex.
Cabot, Cabot & Forbes has paid $10.3 million for a two-acre parcel across from the Quincy Adams MBTA Station on Penn Street. The purchase price includes permits for a six-story, 235,000-square-foot apartment building, according to a filing at the Norfolk County Registry of Deeds. The seller, Sobin Park LLC and Jenelle Realty LLC, entities of Norwell businessman Michael James Verrochi, bought the parcel in 2009 for $2 million.
The new complex will include 19 studio units, 111 one-bedrooms, and 50 two-bedroom units. A construction date has not been set. Cabot hopes to open the apartments by February 2016.