(To read more on the multifamily market, click here.)
LAWRENCE, MA-A six-story building whose architecture won it aspot on the National Register of Historic Places will be turnedinto loft-style condominiums. The development plan will bring theone of the first residential condos to this former industrialcity's downtown.
Matthew Abrams, a principal with the Abrams Group which isplanning the conversion, tells GlobeSt.com that the Gleasonbuilding will be restored and renovated to create 16 two-bedroomunits that average 850 sf and sell for between $150,000 and$175,000. "We think it's a great historic Downtown with a ton ofpotential," says Abrams, whose local development firm recently wonapproval from the city to begin the conversion process later thissummer. The project should be completed in eight months.
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