Proposed Peabody Housing Development Presses Forward

PEABODY, MA —The developers behind a proposed 55-plus living community at the former J.B. Thomas Hospital site on King Street are pledging continued outreach to the Peabody community after the first public hearing in front of the Peabody Zoning Board of Appeals on Monday night.

Kings Residences is a proposed multifamily residential community with 25 percent affordable housing at the King Street site.

Hemisphere Development Group, LLC said after a previous proposal for the site was withdrawn last summer it has attempted to evaluate the percentage of affordable units residents want to see in the development in accordance with the Peabody Housing Production Plan. Hemisphere said as a result of its research the new Kings Residences plan will have additional affordable units that it said will "generate significant tax revenue" and "bring an aesthetic transformation to clean up an eyesore."

"Following (Monday night's) meeting, we want to make it very clear that a lot thought has gone into this project, and we want to ensure residents that what we are offering is a quality project that will bring jobs, revenue and an affordable place to live all here in Peabody," Peabody Attorney Jason Panos, who led the developer's presentation to the Zoning Board. "Seventy percent of the affordable units will be made available to Peabody residents who qualify. Most of the affordable units will be available to teachers, nurses, police officers, fire fighters and other front line workers along with folks who grew up here and can no longer afford to live here who meet certain income requirements."

The ZBA continued its hearing to Nov. 9 with an opportunity for public comment.

"We want to hear from residents and hear their questions and constructive comments at the next hearing so that we can create the best possible development. Anyone can also go on the project website and submit any questions they like," Panos added.

The proposed 133-unit development will include one-, two- and three-bedroom units with 34 units deemed "affordable" under the state's 40B Comprehensive Permit Law.

"With the 70 percent local preference, Peabody residents will have more opportunity to stay in Peabody, shop in Peabody and be active in the area," Hemisphere said in a statement.