NOVEMBER 2018 NEI recently completed the $16.5 Million construction of 112 Rantoul Street, a transit-oriented mixed-use development located adjacent to the Beverly Depot commuter rail station in the heart of Downtown Beverly. The project involved the construction of a six-story, 67,000 SF podium construction building comprised of 67 residential rental units with a wood structure constructed over a steel structure housing commercial space.
Now known as Holmes Beverly, this development is comprised of market-rate units and 16 workforce housing units. Of those, 14 are reserved for residents earning at or below 80% of the area median income, and two others for residents earning no more than 110% of the area median income. The apartments range from studios to two-bedrooms offering a variety of views of downtown and the waterfront with 70 parking spaces reserved in the adjacent commuter rail parking garage for residents.
In addition to convenient access to the MBTA commuter rail, Holmes Beverly offers a myriad of luxury amenities and features for its residents. On the ground floor, residents enjoy a lobby featuring a fireplace, seating areas and a library as well as a telecommuting office for those working from home. A 5,000 SF space has also been reserved for a future restaurant. Out the back door, residents with dogs can use a covered dog run. On the second floor is a full gym and yoga studio and a lounge that residents can use for gatherings in addition to a rooftop deck. All apartments are dog-friendly and feature high-end finishes like stainless-steel appliances and marble tiled showers. Units on upper levels have decks and there are Juliette balconies on the rear side of the building.
NEI partnered with Barnat Development and ICON Architecture on this mixed-use development, which will help to revitalize Rantoul Street by serving the needs of both neighbors and commuters that utilize the Beverly Depot. Holmes Beverly opened to eager renters on September 1st.