The Salem News | By Ethan Forman
October 2, 2016
SWAMPSCOTT — This affluent, 2-square-mile seaside community is witnessing a spate of large apartment and condominium developments, including an assisted living facility, in the vicinity of Vinnin Square.
While seemingly out of character in a town where nearly 70 percent of the homes are single-family, the projects are filling what some say is a critical housing need both in town and throughout the North Shore.
The three projects, encompassing 310 apartments and condominiums, are:
Hanover Vinnin Square. The 184 luxury apartments have been built at the former location of the Jewish Rehabilitation Center at 330 Paradise Road (Route 1A).
The Residence at Vinnin Square. This is an assisted living facility with 84 apartments, now under construction behind Marshalls at 224 Salem St. Developers celebrated a milestone with a dedication ceremony last week.
Avery at Swampscott. This new development with 42 condominiums is located on 1.9 acres at 443 Essex St. While the project had been permitted several years ago, the recession slowed its development. It is now in the beginning stages of site construction.
“I think Avery is going to provide a need for the community,” said Liz Speranzella, a vice president at Streamline Communities, which is marketing the project for the developer, DiBiase Homes of Lynnfield. It’s not an age restricted project, she said, and Avery may appeal to both empty-nesters seeking to downsize and young people seeking home ownership at a time of low interest rates.