Groundbreaking Ceremony for New Residence Inn in Peabody, MA

February 12, 2025 - 00:40

PEABODY, MA – PEG, a vertically integrated owner, operator, and developer of multifamily, hospitality, and build-to-rent assets in the U.S. and Canada, has joined forces with Simon, a prominent real estate investment trust, to celebrate the groundbreaking of a new Residence Inn in suburban Boston. This exciting development marks a significant step forward in enhancing the local hospitality landscape.

The new Residence Inn is set to provide modern accommodations tailored for both business and leisure travelers, featuring spacious suites equipped with full kitchens and contemporary amenities. With a focus on comfort and convenience, the hotel aims to cater to the growing demand for extended-stay options in the area.

As part of the project, the developers are committed to incorporating sustainable practices and community engagement initiatives, ensuring that the Residence Inn not only meets the needs of its guests but also positively impacts the surrounding neighborhood. The collaboration between PEG and Simon underscores their dedication to creating high-quality living and hospitality experiences in the region.