Developer backs out of $1.6B Quincy Center project in Mass.

Street-Works Development, the master developer for the $1.6 billion Quincy Center redevelopment project in Massachusetts, published a full-page ad in a local newspaper that said it was withdrawing from the project. The ad noted "the existing Land Disposition Agreement [with the city] contains prohibitive conditions relating to project cost," and added "[t]his, combined with rapidly escalating construction costs, has brought progress to a halt." Quincy's mayor, Thomas Koch, in February had set a 30-day deadline for Street-Works to "jump start construction."

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American City Business Journals · Patriot Ledger (Quincy, Mass.), The

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