Peabody Properties to Manage Historic Capitol Square Apartments

Editor's note: The following information comes from a Peabody Properties press release.

Peabody Properties—a full-service, Braintree-based real estate company—will assume management of the in Arlington.

The property, 252 Massachusetts Ave., consists of 32 apartments in three buildings and was built circa 1912. Restoration plans are currently underway.  Peabody Properties will oversee and manage this and officials said the company is committed to ensuring that the classic design and historic detail of the buildings remain intact.

As part of the planned renovation, new heating, plumbing and windows will improve the energy efficiency of the property. All apartment units will be upgraded and exterior restorations will maintain the integrity and character of the original building design.

According to the Housing Corporation of Arlingtonowner and developer of the property, Peabody Properties was chosen based on the firm’s demonstrated expertise in providing full service management to multi-layered affordable housing communities,—in particular those that have undergone substantial rehabilitation, temporary relocation and re-occupancy. The units will be in Arlington. 

HCA Real Estate Director Kelly Hunt said the relationship between the Housing Corporation and Peabody Properties will be beneficial to both the residents and the project.

“To date, our experience with the Peabody team has been extremely positive," Hunt said in a statement. "It is clear to me that the company has earned its reputation for professionalism and service.”

While Peabody Properties currently provides comprehensive quality management services to more than 10,000 residential units in both inner city and suburban areas throughout New England, this project represents a unique addition to the firm’s portfolio, as the Capitol Square Apartments will be the  company’s first property in Arlington.

“We look forward to working with and in the Arlington community,” said Karen Fish-Will, Peabody Properties vice president. “We are very excited about the partnership and look forward to a productive collaboration.”