Lupoli: Thorndike Exchange on schedule for Sept. opening
By Christopher Scott, email@example.com
Updated: 03/02/2017 08:21:54 AM EST
Thorndike Exchange Building and Developer Sal Lupoli (inset, right) with Sun Enterprise Editor Christopher Scott on the Sun Spot set. SUN /CHRIS TIERNEY
LOWELL -- Nearly half of the high-end apartments now under Phase 1 construction in Sal Lupoli's Thorndike Exchange project are pre-leased and the real-estate developer couldn't be happier the "phone is ringing off the hook."
"We're right on schedule for a September opening," said Lupoli, who discussed his development, and other projects in Lowell, in the latest episode of Sun Spot, the newspaper's contribution to the Lowell Telecommunication Corp.'s weekly news magazine, LTC News.
The show airs every Thursday at 6 p.m. on LTC Channels 8 and 99.
Phase 1 calls for 61 units, with another 100 planned in Phase 2, which Lupoli hopes to begin later this year. The $50 million development is in the former mill next to the Gallagher Transportation Terminal on Thorndike Street.
Rates for a studio up the spectrum to tricked-out, three-bedroom unit will range from about $1,000 to $2,500 per month.
Phase 1 apartments, Lupoli said, have been popular with residents displaced by last year's purchase of the 230-unit Perkins Park residential mill development by UMass Lowell. Lupoli said he's got 10 signed leases with more in the works. UMass Lowell Chancellor Jacquie Moloney and City Manager Kevin Murphy, Lupoli said, have played key roles in helping those people arrange new living quarters.
To help market Thorndike Exchange, beginning this weekend Lupoli will lease street-level space at 17 Shattuck St. in downtown Lowell. He's calling it the Experience Center.
Prospective residents can learn about units, rates, and other amenities at the center. In addition, the center will offer community space to any local entity short on meeting space for no charge. Once Phase 2 is complete, Lupoli hopes to move the center to a "penthouse unit."
Besides its proximity to the Lowell Connector and the transportation terminal, Lupoli has aggressively marketed the development's two planned restaurants, wine bar, and small cafe. All items from the restaurants will be made available to residents through what Lupoli called "concierge service."
The 30-minute show is anchored by LTC volunteer Alexander Gentile and features other local content. It is rebroadcast at different times during the upcoming week. Check the LTC website for times and channels.
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