When the city of Quincy sold the Quincy Medical Center property to a private healthcare company in 1999, the deal stipulated that the city could claim an ownership stake in the land if it was ever repurposed for nonmedical use.
FoxRock Properties wants to turn the 15-acre property into a residential community and situate its 200,000-square-foot medical development downtown, so it agreed to buy out the city’s stake for $4.25 million.
The agreement is pending city council’s approval.
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