Developer Pulls Out Of Plan To Redevelop Peabody Hospital

PEABODY, MA — Hemisphere Development Group LLC withdrew its application to convert the former J.B. Thomas Hospital building into a 135-unit condominium complex that would have been marketed to people over the age of 55. In a statement Friday, the company said the decision to withdraw its special permit application comes after a community meeting earlier this week.

"Following Wednesday’s neighbor meeting and at the urging of Ward 4 Councilor Edward Charest, we have decided to withdraw our proposal to further evaluate the potential development of this property," said Al Chow of Hemisphere Development.

Hemisphere said its most recent proposal would have brought Peabody $500,000 in annual property tax revenue with "minimal impact on the school system to Peabody." The developer's news release Friday noted it had scaled back the number of units from its original proposal by 27 percent and made an "effort to help clean up an eyesore caused by the vacant building, the company has also refreshed landscaping and added screening on the property in the interim."

Hemisphere paid $1.9 million for the property in 2017. "We will continue to look at all of our options for the site over the coming weeks and months," Chow said.