Framing for Sedna, New Apartment Development in Beverly, Set to Begin
Posted By: Boston City Properties
Work on a highly anticipated new apartment complex on the site of a former uranium processing plant is kicking into overdrive. Framing work for Building A, one of two buildings that will make up the new Sedna apartment complex in Beverly, began during the last week of January. According to the developer, Procopio Companies, the basement level will be stick built; floors one through three will be panelized. Ultimately, the development will boast 62 apartment homes across two buildings along with a new waterfront park; 1,200 feet of new seawall; and 1,500 feet of boardwalk.
Located on the Danvers River at 10 Congress Street, the property on which the development is being built was sold to Procopio, a Saugus-based developer, in April 2019. Situated next to the Beverly-Salem bridge, the 3.7-acre site has been earmarked for housing development since 2007. At that time, the city approved plans from another developer, Dennis Pantano, for constructing a 72-condo development on the property. However, those plans never materialized, and Pantano put the property up for sale in November 2018 for a list price of $2.9 million. He reportedly received 12 offers, and the property sold for $3.5 million on April 1st of last year.
The new development will be a welcome change for local residents, who have become accustomed to living near a long-abandoned parcel that has been used as an illegal dumping site for large pieces of trash. All of the necessary permitting was finalized in 2012, which is why the developer was able to spring so quickly into action. With framing now underway, it won’t be long before construction is complete. The first units in the development are expected to become available in the third quarter of 2020.
Sedna will be located on the former site of a uranium chemical processing facility. During the 1940s, Metal Hydrides – later renamed to Ventron, the name by which the site has been known for some time – operated a facility that converted uranium oxide into uranium metal powder. This processing was performed as part of the Manhattan Project, which developed the first atomic bomb. Not surprisingly, the site required a great deal of attention after serving as a processing plant for so many years. During the 1980s, the federal government spent $11 million on cleaning it up. Procopio will clean it up further, removing leftover asbestos tiles and an asbestos-lined pipe from the site.
Rents for apartments in the development are expected to fall into the low- to mid-$2,000 range, according to the developer. Ultimately, the project will cost $20 million to complete, and it will transform this section of Congress Street. Sedna is slated to include roof decks, a fitness center, fire pits, a sports lounge and clubhouse and library space. Loaner kayaks and paddleboards will also be made available to residents. Public parking will be made available at the boardwalk, which will include lighting. Stay tuned to Boston City Properties for future updates about this project.