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Developer tells Peabody ZBA it will proceed with 133-unit 15 King Street project as approved
Summary
Hemisphere Development Group (HDG) notified the board it will not pursue a revised plan and will proceed under the existing comprehensive permit for 15 King Street, maintaining the previously approved 133-unit project; the board accepted the communication into the record.
A letter read into the record on April 13 notified the Peabody Zoning Board that Hemisphere Development Group LLC (HDG) will proceed with the 15 King Street project under the comprehensive permit already approved in 2022.
The reading, from attorney Damon Segelson on behalf of HDG, said planned revisions (changing condominium ownership to rental apartments and reducing massing) were withdrawn and the developer intends to continue under the existing GL c.40B comprehensive permit for a 133-unit condominium-style development. The letter stated some demolition has begun and that HDG anticipates groundbreaking in early 2027.
The board voted to receive the communication and accepted the letter into the record.
Why it matters: The notice confirms the developer will not file a revised plan for the property and expects to proceed under an earlier approval for a relatively large multi-unit project, which carries broader traffic, permitting and neighborhood implications than single-lot variance matters.
What happens next: The board recorded receipt of the communication; demolition and site-preparation work were described as planned in the coming weeks, with full development expected to begin in early 2027 under the existing permit.
