Tannery

Tannery (Peabody, MA)

Located in the historic Leather City, The Tannery rehabilitation is a joint effort between WinnCompanies, MassHousing, and the city of Peabody to preserve 284 units of affordable lower-income housing for the next 45 years. WinnCompanies has secured $28.3 million in order to rehab the 284 apartments. Of these apartments, 84 will be subsidized through the Massachusetts Rental Voucher Program, 116 apartments will be affordable for households earning at or below 60 percent of the Area Median Income(AMI), 35 apartments will be affordable for households earning at or below 80 percent of AMI, and 49 apartments will be rented at market rates. Once finished, The Tannery will offer 20 studio apartments, 234 one-bedroom apartments and 30 two-bedroom apartments contained in three brick residential buildings, including a seven-story building on Crowninshield Street in downtown Peabody. Of the 156 individuals hired for this project, over 35% are from the immediate surrounding area, 75% were women and minorities, and over 20% qualified for local Section 3 designation. 58% of the work performed on site was completed by women and minorities.