Adam Baacke, deputy director of the city's Division of Planning and Development, tells GlobeSt.com that the city has issued a request for qualifications from developers interested in revamping the Downtown gateway site into a mixed-use development containing up to 1,000 residential condominiums and at least 65,000 sf of commercial space.
This is a phenomenal opportunity for the development community," says Baacke. "Not only will they be contributing to Lowell's history through the creation of a new neighborhood, but they'll also be a part of one of the state's most unusual development projects."
Located at the confluence of four canals that once served an important role in the city's industrial development, the project was designed to infuse between $200 million and $300 million into an area of old mill buildings and vacant lots that stretches for blocks just outside of Downtown. Forming the backdrop for the retail and residential project will be the Hamilton, Western, Merrimack and Pawtucket Canals.
Baacke says city officials envision a project that will create a vibrant new neighborhood that will balance the area's historic mill buildings with new development and link the city's transportation hubs at the Gallagher Terminal and Lowell Connector with the center of Downtown.
Baacke says the city expects to cull three or four developer from a list of potential candidates after the Aug. 15 deadline for submitting qualifications is past and hopes to have the project's developer selected by the end of the year.
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