Hemisphere Development Group, LLC presents Kings Residences, a premier new multifamily residential community with 25 percent Affordable Housing to transform the vacant former J.B. Thomas Hospital site located at 15 King Street in Peabody.
Since the previous proposal for an active adult 55+ lifestyle community at this site was withdrawn last summer, Hemisphere has conducted community outreach to evaluate the percentage of Affordable units residents want to see in new multifamily development based on the need for affordable housing identified in the draft Peabody Housing Production Plan. As a result of this research, the new Kings Residences plan will create new affordable living opportunities in Peabody, generate significant tax revenue and bring an aesthetic transformation to clean up an eyesore.