Griffin Capital and Hanover Company have commenced construction on Hanover Quincy Center, a 297-unit multifamily community in Quincy, MA, aimed at addressing housing shortages in the Boston area.

Information on the Target

Griffin Capital Company, LLC, a prominent private real estate investment manager, alongside its joint venture partner, Hanover Company, has commenced construction on a significant multifamily project named Hanover Quincy Center. This development, located in Quincy, MA, will feature 297 residential units across seven stories in the heart of Quincy’s historic City Center. The site offers its residents exceptional connectivity to public transit and is in close proximity to vibrant retail amenities.

The Hanover Quincy Center will provide future residents with meticulously designed units that boast high-end finishes and modern amenities. Community features will include a resort-style pool, a fitness center, and a structured parking garage with gated access. Notably, a specialty grocer is set to open on the ground floor, enhancing the neighborhood’s connectivity and lifestyle opportunities for residents, a feature that distinguishes it from typical suburban developments in Boston.

Industry Overview in the Target’s Specific Country

The multifamily housing sector in Massachusetts, particularly in the Boston Metropolitan Statistical Area (MSA), is currently facing significant challenges, primarily due to financing difficulties for new developments. As demand for high-quality renta