Image courtesy of Nine Zero Two Development

A developer is nearing complete of the latest in a series of Lowell multifamily developments after receiving a mix of public and private financing.

Nine Zero Two Development is converting the vacant former Odd Fellows hall at 78 Middlesex St. into 26 loft-style units with 13-foot ceilings.

Hunneman represented Nine Zero Two Development in obtaining financing, including a construction loan from Lowell Five Bank, for the Isobel Lofts project.

“This was an incredibly complex financing package, requiring the involvement of a number of organizations and active participation by our client, Nine Zero Two Development,” Hunneman Executive Vice President Andrew Kaeyer said in a statement.

The financing package included Massachusetts’ Housing Development Incentive Program tax credits and tax credit lenders Cahoon Capital and Lowell Development and Financial Corporation (LDFC).

Completion is scheduled for fall 2025.

Nine Zero Two Development specializes in historic adaptive reuse projects, and previously completed a redevelopment at 160 Middlesex St. known as The Charter containing 24 apartments.

Zero Two Development acquired the Odd Fellows hall in December 2020.