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Holmes Beverly

New workforce housing steps from the Commuter Rail

A rendering of Holmes Beverly, a new 67-unit rental development built steps away from a commuter rail station in Beverly, Mass.

The new 67-unit Holmes Beverly is located on a once vacant piece of land adjacent to a commuter rail station

Holmes Beverly may be the first apartment community named for a Supreme Court Justice (Oliver Wendell Holmes Jr., who had a summer house in Beverly). It is for sure the first property developed by Barnat Development, LLC, a new firm started by Sarah Barnat.

The newly-built 67-unit development stands on a once vacant parcel of land on Rantoul Street adjacent to a commuter rail station and an MBTA garage. Sixteen apartments are for moderate income residents; 14 for people with incomes at or below 80% of area median and two for residents with incomes at or below 100% of AMI.

MassHousing provided $1.6 million in financing from its Workforce Housing Initiative and a $600,000 subordinate loan. Other funders are Boston Private Bank and the Massachusetts Housing Investment Corporation's Healthy Neighborhoods Equity Fund.

A photo of Sarah Barnat, founder of Barnat Development, LLC

Barnat Development founder Sarah Barnat on the construction site of Holmes Beverly