The Grossman Cos. bought the Munroe Building, which is located right next to city hall here, for $2.7 million. The property includes a two-story, 67,500-sf building that has retail and office space and two parking lot parcels separated by an MBTA station. The development proposed by the firm includes internal and external improvements on the building and a 111-unit luxury apartment building on a 27,000-sf parcel near one of the parking lots. A two- or three-story garage would be put up on the third parcel. The project is estimated to cost $20 million. Mader also praised the company's choice of local architectural firm, John Sheskey & Associates. "They are sensitive to the local area," she notes.

Dana Wofe, team leader in acquisitions and finance with Grossman, tells GlobeSt.com the company is going through its final approval with the Zoning Board of Appeals here next month. Assuming the project also receives approval from the Quincy Historic Commission, ground-breaking will be in the fall. Construction is expected to take between 15 and 18 months.