Peabody seeks proposals for development

Peabody Main Street Association is accepting proposals for leasing and eventually owning underused and historic properties at 107 and 117 N. Walnut St. in the town’s downtown historic district.

Proposals may be for a full building or a smaller space within a proposed business incubator, contingent on funding from that program. A $1.5 million state grant will help pay for structural repairs, but applicants will be required to pay to finish the building to their specifications.

“We want to make this program open and available to the public so that everyone has the same opportunity to open or expand a business in Peabody,” Peabody Main Street president Kelly Penner said in a release.

Applicants must submit a business description, details on funding for finishing the building, a timeline for completion, five-year financial projections, and letters of professional references. Included in finishing is flooring, fixtures, painting, and drywall or paneling, as well as any necessary merchandise, inventory, or furniture.

Applications must be approved by the state Historic Preservation Office before construction.

Tours of the properties will be available every from 10 a.m. to noon Saturdays through June 1.

Details and forms are available at peabodygrants@gmail.com. A free workshop on writing proposals will be at 3 p.m. Saturday at Peabody Township Library, 214 N. Walnut St. Deadline is 5 p.m. June 3.