Trammell Crow Residential breaks ground on Alexan Peabody,
Trammell Crow Residential (TCR) has initiated construction on their latest endeavor, the Alexan Peabody, destined to enrich the Peabody, Massachusetts landscape with 180 luxury multifamily units. Breaking ground on 128 Newbury Street, this four-story development is not just another building; it’s slated to become a cornerstone of community and upscale living when its doors open in Q4 2025.
The true beauty of Alexan Peabody is that it embraces the full spectrum of social inclusion. In line with the 40B development program, a generous 25% of its units will be available as affordable housing at 80% of the Area Median Income, casting a wider net of opportunity across the North Shore of Boston.
Future residents at Alexan Peabody can revel in the expected yet impressive stainless steel appliances, wood-style plank flooring, and those dreamy spacious walk-in closets that top many a wish list. The development promises to add not just a place to rest one’s head but a lifestyle, with resort-style amenities including a sparkling pool, lush courtyards, fitness facilities, and a well-appointed resident event room.
Strategically situated along Route 1, a stone’s throw from key highways, Alexan Peabody isn’t just a home; it’s a gateway to the region’s thriving job market in Boston, Cambridge, Burlington, and Waltham. For downtime, residents will have easy access to local lifestyle havens like MarketStreet Lynnfield and Northshore Mall.
In a statement that neatly ties the project’s commercial vision with its civic value, Managing Director for the Northeast Division of TCR, Andy Huntoon, said, “Alexan Peabody provides much-needed market-rate and affordable housing to Boston’s North Shore. The development of the site will beautify a previously clear-cut parcel of land, and we’re appreciative of the cooperative working relationship with the neighbors and the City of Peabody that helped make this project possible. We believe there is an incredible opportunity to continue to meet Greater Boston’s housing demand while creating jobs and providing solid risk-adjusted returns for our financial partners.”
TCR’s commitment to the region continues to unfurl, with Alexan Peabody joining the roster alongside the soon-to-be-completed Alexan Waltham, expanding their multifamily apartment industry footprint in the Northeast with more than 1,600 units in development. It’s clear that TCR has its sights set on not only enhancing the skyline but also fostering the communities within it, promising a brighter horizon for multifamily living in Massachusetts.