Quincy Mayor Tom Koch hosted city, state and federal officials, as well as private partners, at a groundbreaking ceremony yesterday for Merchants Row, the first major block of mixed-use development and pedestrian-friendly public space being constructed within the new Quincy Center master development plan. 

Merchants Row, scheduled for completion in 2014, is expected to bring 287 loft units in two buildings, the Kilroy and the Granite Trust lofts, along with more than 35,000 square feet of street retail and 24,000 square feet of office space in the renovated historic Granite Trust building. 

White Plains, N.Y.-based Street-Works Development is the developer for the overall project, and Boston-based Suffolk Construction is the construction manager.

When completed, the $1.6 billion redevelopment plan will include a 20-square-block urban, mixed-use neighborhood, comprised of office buildings, approximately 700,000 square feet of anchor and street retail and food, two new hotels, 1,400 residential units and multiple new parking garages.

In January 2013, Koch announced that Street-Works and partner The Beal Companies, working with LaSalle Investment Management, had secured over $55 million in equity financing for Merchants Row, allowing the project to move forward. Jones Lang LaSalle is the leasing agent for the office and medical office components of the project.

Construction of Merchants Row will take place in conjunction with the execution of the new Adams Green public space, which will encompass the resting place of the American Presidents John Adams, John Quincy Adams and their wives and will link Merchants Row to the MBTA Red Line station in downtown Quincy. 

[Editor’s note: Because of incorrect information supplied to Banker & Tradesman, the original version of this story had the incorrect number of loft units slated for two buildings, the Kilroy and the Granite Trust lofts.Also, the article contained the incorrect year in which Quincy’s mayor announced the financing for Merchants Row.]