Real Estate
Developer Plans To Cut Proposed Number Of Condo Units By 10%
The decision to scale back the redevelopment of the J.B. Thomas Hospital​ in Peabody comes after meetings with city officials.
PEABODY, MA -- Developers plan to cut the number of condos proposed for a redevelopment of the J.B. Thomas Hospital in Peabody by at least 10 percent. The current plan calls for 135 units that would be marketed to people over the age of 55.
According to the Salem News, which first reported this story, Peabody attorney Athan Vontzalides, who represents developers Hemisphere Development Group LLC, said the decision to reduce the number of units comes after a series of meetings with city officials. Hemisphere paid $1.9 million for the property a year ago.
Previously on Patch: Selectman: Conversion Of Closed Hospital To Condos On Track
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