Real estate

Major piece of Quincy downtown redevelopment project may go private

This is a summary. To read the whole story subscribe to BostonGlobe.com

Amid rising investor concerns, Quincy officials are trying to get the stalled downtown revitalization moving again by giving private developers complete control of the project’s first phase.

The redevelopment has been halted since November, when construction work on Merchants Row—a block contained within Hancock Street, Cottage Avenue, and Chestnut Street – became too costly to continue.

Negotiations officially began this week to kickstart that piece of the $1.6 billion Quincy Center redevelopment project. The process is expected to end the city’s involvement with Merchants Row, as well as divorce Merchants Row’s investors from Street-Works Development LLC, the master developer for the overall project.

Full story for BostonGlobe.com subscribers.

Get the full story with unlimited access to BostonGlobe.com.

Just 99 cents for four weeks.

Share