By: Eric Convey

October 15, 2014

A development group today announced the construction of a 180-unit apartment building in Quincy near the MBTA Red Line.

Zero Penn Street will consist of studios, one-bedroom and two-bedroom units, according to a news release from First Niagara, which arranged $34 million in financing for the project.

According to the news release, the project is a joint venture between Cabot, Cabot & Forbes and Boston Andes Capital LLC.

Jay Doherty, CEO of Cabot, Cabot, & Forbes, said in a prepared statement that Red Line and highway access contribute to “making this a highly desirable location for Boston commuters.”

Zero Penn Rendering

The six-story complex is set to have a 180-space parking garage and a clubhouse, according to the developers. There will be 34 studios, 96 one-bedrooms and 50 two-bedrooms. The average size, according to a news release, will be 874 square feet.

“Since First Niagara established a presence in the Boston area in late 2011, we have seen significant growth in the demand for commercial real estate financing in Boston and its suburban markets,” Doug MacLean, First Niagara’s senior vice president of commercial real estate lending for the Greater Boston Area, said in a prepared statement.