QUINCY, MA – Mayor Thomas Koch, along with real estate developers Tremont Asset Management and Broadway Hospitality, announced the development of a $ 300 million residential tower and entertainment project in the city of Quincy on Thursday.

The 800,000-square-foot mixed-use project will shine above the Quincy Center.

The 204-unit tower block is proposed at 1469 Hancock St., known as the Arcade Building, and will also house 8,000 square feet of restaurant and retail space.

“We have made extraordinary strides in bringing the city center back, but we still have a lot to do in the months and years to come.” Koch said in a statement.

The project would include a 15-story residential tower, a new park and a performing arts center.

See the Boston Business Journal for more information.