Officials To Celebrate $49 Million Peabody Affordable Housing Project

PEABODY, MA — Peabody officials will celebrate the completion of a $49.3 million renovation of the former The Tannery affordable housing community built inside the historic former leather tannery on Crowninshield Street this week.

The 284-unit complex and property — now known as Preserve North — includes repairs to a collapsing dam and retaining wall as well as a memorial and public park commemorating Arthur C. Lawrence, who founded the industrial leather tanning facility that fueled the city's growth during the early 20th century.

WinnCompanies agreed to purchase the property with financing through MassHousing funding in 2019 and maintain it as an affordable-housing community.

MassHousing Executive Director Chrystal Kornegay, State Sen. Joan Lovely (D-Salem), State Rep. Thomas Walsh (D-Peabody) and Peabody Mayor Ted Bettencourt will cut the ribbon at a Wednesday ceremony set for 1 p.m.

(Scott Souza is a Patch field editor covering Beverly, Danvers, Marblehead, Peabody, Salem and Swampscott. He can be reached at Scott.Souza@Patch.com. Twitter: @Scott_Souza.)