A place where beavers live or gather; beaver habitat or colony.
From 'beaver' plus the suffix '-ery' (related to '-ary'), which creates nouns meaning places associated with something. The '-ery' suffix appears in words like 'brewery' and 'bakery.'
The '-ery' suffix is one of English's most productive ways to name places—we have breweries, bakeries, dairies, and similarly, a beavery is where beavers do their business of dam-building and woodwork!
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