Trammell Crow Residential (TCR), a subsidiary of Crow Holdings, has commenced construction on Alexan Peabody, a luxurious multifamily residence in Peabody, Massachusetts. The 180-unit development is expected to be completed by Q4 2025.
Situated along Route 1 at 128 Newbury Street, the project offers studio to three-bedroom apartments with an added bonus of affordable housing options for those earning up to 80% of the Area Median Income. Residents can enjoy various amenities such as a pool, outdoor courtyards with grilling stations, fitness center and business center. Additionally,a resident event room equipped with a gourmet kitchen,gaming area and library will also be available.
According to Andy Huntoon,the Managing Director for TCR’s Northeast Division,”Alexan Peabody fills the much-needed demand for both market-rate and affordable housing in Boston’s North Shore region.” He further adds that this development will enhance the visual appeal of what was once an empty plot,and credits its success to positive collaboration between neighbors and local authorities in Peabody.
The article “Trammell Crow Residential Commences Construction on Luxury Multifamily Development in Massachusetts” originally appeared on Connect Commercial Real Estate website.
