Swampscott luxury apartments on horizon

SWAMPSCOTT – Empty nesters, millennials, and, perhaps most importantly, pets will be welcome at a 184-unit luxury apartment building on Paradise Road scheduled to open this summer, developers said Thursday.”We are targeting a broad range of users, both the millennials commuting to Boston, people working in the area, and empty nesters from Swampscott and Marblehead and Salem and the broader area who are looking to get out of a home and into a high-end, well-amenitized rental community,” said David Hall, development partner at The Hanover Company.The Hanover Company is constructing Hanover Vinnin Square across from Whole Foods Market at the site of the former Jewish Rehabilitation Center, which announced in May 2011 that it was consolidating its operations to its Peabody campus.The former assisted-living facility was razed and will be replaced by two four-story buildings with one-, two- and three-bedroom units, according to the company. Hall said community amenities include a 4,500-square-foot resident clubhouse, private screening room, fitness center, and resident lounge with a business center and a demonstration kitchen.Outside will be a resort-style pool with dining areas, a fireplace and a “sun shelf” – an extended platform about a step down into the pool where kids can play in shallow water or a chaise lounge can be placed on hot days.Hall said the construction is about half complete, and the first apartments will be available for tenants in late summer.Apartments range from 700 to more than 1,400 square feet, include 9-foot ceilings, stainless-steel appliances, granite countertops and luxury bathrooms with natural stone countertops and soaking tubs, according to the development website. Select apartments also have built-in computer desks, dry bars and terraces.According to a fiscal impact analysis of the project completed in June 2013 by Connery Associates of Melrose, the complex will provide $373,000 in net annual revenue to the town through increased taxes and vehicle excise taxes. The Jewish Rehabilitation Center contributed an $8,000 annual payment in lieu of taxes to the town.Rents are anticipated to range from $1,499 for the smallest of the 99 one-bedroom units to $2,680 for each of the 1,449-square-foot three-bedroom units, according to the fiscal impact analysis.”We’re taking advantage of a scarcity in the immediate area of this kind of housing … which people love,” Hall said.Visit www.hanovervinninsquare.com for more information.