78 percent of the 169 units at Redgate’s “West of Chestnut” residential complex in Quincy are leased.

Four years ago, Quincy’s ambitious plans to remake its downtown were in shambles.

The master developer, Street-Works Development LLC, unceremoniously exited the $1.6 billion project to redevelop key parcels of land in the downtown, saying financial issues and “prohibitive” city strings made it “impossible” to proceed with plans. For their part, frustrated city officials were more than willing to see Street-Works out the door.

But fast-forward to today and the picture is much different. Late last year, Boston-based Redgate, a residential developer, completed its two-building “West of Chestnut” development at 31 Chestnut Way and its 169 rental units are already 78 percent leased. Nearby at 1545 Hancock St., at the site of an old Woolworth building, Galvcon Development has just completed construction of the new 56-unit “Cliveden Place Condos” building and is currently in full swing on a second 30,000-square-foot commercial building at the same site.

Meanwhile, the city council last week cleared the way for Quincy developer Peter O’Connell to proceed with construction of a 15-story, 130-unit residential tower, with ground-floor retail, on the city-owned Hancock parking lot, as part of a land swap deal, via a land disposition agreement.

Next up: Another land-swap deal would allow LBC Boston to build either a residential building or a new hotel at 1500 Hancock St. on what’s now a city-owned parking lot and on adjoining property that currently hosts empty retail buildings. Developers are now tilting toward construction of apartment units, though no final decision has been reached yet.

A Decentralized Approach To Redevelopment

“It’s all starting to come together,” said Chris Walker, a spokesman for Quincy Mayor Thomas Koch, who has taken heat in the past for the slow pace of redeveloping the downtown. “There are a lot of moving parts for downtown, one contingent on the other. But it’s working.”

If all the pieces come together – and there’s still a few more parcels of land to be redeveloped after the O’Connell and LBC projects are out of the way – it would mark a huge success for a more decentralized approach toward redeveloping Quincy’s downtown.

Koch cut ties with Street-Works in 2014, following its failure to finance key aspects of the project, and the city opted to push ahead instead with multiple developers to construct new retail, residential and office space downtown.

“It’s been the right approach,” Kyle Warwick, a principal at Redgate, said of the more de-centralized approach. “There’s nothing wrong with a master plan that calls for block by block development with different developers.”

Besides its new residential units, Redgate’s West of Chestnut complex has also leased space on the ground floor to two restaurants, Fuji at West of Chestnut and Kkatie’s Burger Bar, and plans to add a new gym tenant and café in March.

Sean Galvin, head of Galcon, the developer of the new Cliveden Place Condos and the still-under-construction commercial building at 1545 Hancock St., also agrees the piecemeal approach toward redevelopment, as opposed to having just one master developer, seems to be working.

“It’s been a long time coming, but it’s been worth it,” he said.

But Galvin also praised New York-based Street-Works for coming up with the original vision of transforming Quincy’s downtown into a more modern transit-oriented district anchored by the MBTA’s Quincy Center stop on the Red Line.

“They opened our eyes to the value of the downtown. They inspired people to look at downtown differently,” Galvin said.

After the O’Connell residential tower and garage deal are finalized, Walker, the mayor’s spokesman, said the city plans to focus on the LBC project. The city has made clear it would prefer to see a hotel built at the site, but it’s giving LBC the option of building either a hotel or residential building, depending on market conditions.

Jonathan Miller, project manager for LBC Boston, signaled that the firm will probably opt to develop a 171-unit apartment building.

“We’d love it if the demand was there for a hotel, but the demand for residential is still so strong,” he said.

Under the agreement with the city, LBC would get a parcel of the city owned parking lot to make way for the new redevelopment, in exchange for two parcels owned by the firm being handed over to the city for walkways and sidewalk amenities. If all goes well, LBC could start construction later this year, Miller said.

Developers say they’re interested in doing more projects in Quincy.

“We’re actively looking,” said Galvcon’s Galvin, though he noted that “almost everything is spoken for” in terms of available downtown properties.

“We’d love to do more in the city,” said Miller, whose LBC has yet to break ground on its currently proposed project. “It’s an exciting time.”