Peabody Properties Continues Expansion of Portfolio with Four Apartment Complexes Developed by Capstone Communities

 Peabody Properties, an affiliate of the Peabody Companies, a group of award-winning property management and real estate firms now celebrating its 48th anniversary, is excited to announce the addition of four apartment complexes developed by Capstone Communities, LLC to its portfolio of managed communities.

Station Lofts in Brockton, The McElwain School Apartments in Bridgewater, Frost Terrace in Cambridge, and Port Landing in Cambridge are now under management by Peabody Properties.

Station Lofts, a revitalization of the former Lilly Brackett Boot & Shoe Co. building in downtown Brockton, is now home to 25 loft-style one- and two-bedroom apartments, 14 of which are affordable housing units. In addition to modern interior features, Station Lofts has an on-site fitness center, ample parking, and storage. Architectural features include exposed brick and beams, high ceilings, and abundant natural light.

The McElwain School Apartments in Bridgewater, developed in partnership with MPZ Development, is a community of 57 one-, two-, and three-bedroom apartments, 51 of which are affordable housing units. The former site of the McElwain School, the building has the distinction of being on the National Register of Historic Places. Many of the distinctive architectural features of the school remain, with modern conveniences gracefully integrated throughout the community. Amenities include a fitness center, community room, a clubhouse, children’s outdoor nature play area, and dog walking area. The newly build residential component of the McElwain School Apartments was also the first Passive House multifamily building to open in Plymouth County.

Frost Terrace Apartments, developed in partnership with Hope Real Estate Enterprises, is a 100% affordable community of 40 affordable apartments, located in Cambridge’s bustling Porter Square. It is the former site of the William Frost House; three existing buildings have been transformed and a fourth building added to create the modern apartment complex. Living spaces are thoughtfully designed and stylishly appointed with premium materials and finishes. The complex includes solar panels, a community room, an electric vehicle charging station, lush landscaping, and a patio. Frost Terrace was recently named a recipient the Robert H. Kuehn Preservation Award by Preservation Massachusetts for its extraordinary historic preservation and will be honored at a ceremony on June 28.
Port Landing, developed in partnership with Hope Real Estate Enterprises, is a community of 20 affordable housing apartments in the heart of Cambridge. The units feature beautifully appointed kitchens with stainless steel appliances, spacious living and bedrooms, garage parking, and indoor bike storage, and is within walking distance to restaurants, shopping and the Red Line.

“Capstone Communities is proud that Station Lofts, the McElwain School Apartments, Frost Terrace Apartments and Port Landing are now under the management of Peabody,” said Jason Korb, principal of Capstone Communities. “This partnership will play an important role in furthering Capstone’s commitment to building exceptional, thoughtfully designed housing for households of all incomes in communities across eastern and central Massachusetts.”

“It has been a pleasure to partner with Jason and his team at Capstone Communities,” said Adam Kenney, Peabody’s executive vice president of operations. “We look forward to further increasing our presence in the vibrant communities of Cambridge, Bridgewater, and Brockton with the addition of Station Lofts, the McElwain School Apartments, Frost Terrace Apartments, and Port Landing to our portfolio.”

About the Peabody Companies

Headquartered at 536 Granite Street, Braintree, Massachusetts, The Peabody Companies and its affiliates – Peabody Properties, Peabody Resident Services, Peabody Supportive Housing, Peabody Real Estate, and Peabody Miami – represent a legacy of excellence in the real estate sector. Founded in 1976 and led by Karen Fish-Will and Melissa Fish-Crane, this full-service, award-winning real estate firm is an Accredited Management Organization (AMO) that oversees more than 14,650 housing units across New England, with additional properties in New Jersey and Florida.

Peabody Properties, a cornerstone of the group, specializes in property management, demonstrating a remarkable blend of quality service and expertise. Peabody Resident Services, a unique arm of the company, underscores a deep commitment to enhancing resident experiences by focusing exclusively on developing supportive services and programs for affordable housing communities.

As a Women Business Enterprise (WBE), certified by the Massachusetts State Office of Minority and Women Business Assistance (SOMWBA), The Peabody Companies has been recognized for its dedication to diversity and inclusion. This commitment is further evidenced by their ranking on the 2023 National Affordable Housing Management Association (NAHMA) Affordable 100 List and their repeated recognition as a Top Place to Work by The Boston Globe in 2017, 2018, 2019, and 2023.

Discover more about The Peabody Companies’ impactful real estate journey and community-driven initiatives at Connect with us on LinkedIn, Facebook, Instagram, and YouTube to stay updated on our latest projects and achievements.