June 12, 2020
MassHousing has closed on a total of $25.2 million in affordable housing financing to WinnCompanies for the development of 125 new rental homes in downtown Lowell. The MassHousing financing will allow WinnCompanies to advance the redevelopment of Lowell’s Hamilton Canal Innovation District.
WinnCompanies will construct the 125 new mixed-income apartments in two connected five-story buildings spanning Canal Street. The project site, Parcels 8 and 9 of the Hamilton Canal Innovation District, is a long-vacant former mill complex along the Lower Pawtucket Canal across from downtown Lowell.
The City of Lowell designated WinnCompanies as developer of Parcels 8 and 9, as part of the city’s broader effort to revitalize the 17-acre master-planned district.
“This development will be a true mixed-income community, offering a mix of affordable, middle-income and market rate units that support local and state housing goals, as well as Lowell’s desire to stimulate economic activity downtown,” said WinnDevelopment’s Larry Curtis.
For comments, questions or concerns, please contact Paul Bubny