Lowell TOD Opens Downtown ‘Experience Center’
By Steve Adams | Banker & Tradesman Staff | Mar 14, 2017
Lawrence-based developer Lupoli Cos. has teamed up with Boston Interiors and digital studio Neoscape as it markets its conversion of the former Thorndike Street mill into a 152-unit mixed-use complex.
An “experience center” and sales office opened last week at 17 Shattuck St. in downtown Lowell and is decorated with residential furnishings provided by the retail chain. And Boston-based Neoscape is compiling a 3-D video tour of apartment layouts within the new development, called Thorndike Exchange. A mobile app also is in the works.
The experience center will host monthly events such as gallery nights with local artists and gardening classes, said Karen McShea, director of real estate development for Lupoli Cos.
Lupoli Cos. acquired the Thorndike Street property in late 2013 and began restoring the 133,000-square-foot former mill that most recently was occupied by Comfort Bedding and Furniture prior to its 2011 bankruptcy.
The existing 5-story building is being converted into 62 one- and two-bedroom apartments scheduled for completion in September. Construction of a 9-story tower containing 90 units ranging from studios to two-bedroom uniots is expected to conclude in late fall of 2018, McShea said.
Units will range from 850 to 1,350 square feet with rents starting at $1,750 and topping out at $2,950, McShea said. The property located next to the Lowell station on the MBTA commuter rail is being marketed to Boston commuters.
“We think we’re a great option for folks who are living in Somerville or the Seaport who work downtown and are living in tiny apartments and paying a lot more money,” McShea said.
The complex will contain up to 10,000 square feet of office space on three levels and 25,000 square feet of ground-floor retail and restaurant space.
With express trains providing service to Boston’s North Station in under 40 minutes, the Lowell MBTA station is becoming a catalyst for transit-oriented development.
Hudson-based Calare Properties in January acquired MACOM Technology Solutions’ 15-acre campus, which abuts the MBTA property, with plans for a new 58,000-square-foot office and manufacturing building at 100 Chelmsford St.