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LAWRENCE, MA-A master plan for this city would like to revamp its 10 million sf of vacant mills into a center for high-tech firms, a technology training center and residential areas. Located 30 miles north of Boston, planners believe this area has not yet met its potential in terms of attracting business tenants.

“There are successful mill developments in the south and north of Lawrence,” Eduardo Lozano tells GlobeSt.com. It is his company, Lozano Baskin and Associates that developed the master plan for the city.

“We know that several developers are complaining about the lack of mill space – which are wonderful spaces for high-tech companies–in the Merrimack Valley. Lawrence has plenty of space and plenty of mills and it has direct access to route 495,” he continues. Lozano has also proposed developing support for these high-tech firms by suggesting that the city establish a technical training center to ensure a labor pool for these companies.

Currently, the average cost per sf of office space in Boston is $60 while in Lawrence the average cost is $8 per sf. Lozano, who says he regrets not recognizing the development potential of Quincy Market and Fanueil Hall before they were developed, believes that there are real possibilities for companies here. “This is a great opportunity to get in to a market when the price is right.”

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