Eastern Bank recently closed $3.5 million in bridge financing towards the energy efficient renovation and expansion of the United Teen Equality Center (UTEC) in Lowell.

Once completed, the building is expected to become the first LEED platinum certified building in Lowell, and the oldest in the country, according to a statement.

UTEC provides educational, workforce development and employment opportunities to Lowell’s high-risk youth. The approximately $5 million construction budget, also funded by state and federal money, will renovate UTEC’s existing 14,700-square-foot headquarters and construct a 7,500-square-foot addition.

"Eastern Bank has been a great financial partner as well as a good neighbor for UTEC downtown," said UTEC Executive Director Gregg Croteau. "Eastern Bank’s bridge loan financing has been critical in transforming this historic building into a model high-performance, energy efficient building, setting a great example for our youth, who themselves are building sustainable lives."

The project, already underway, is currently employing 100 construction workers in downtown Lowell. The expansion of center’s headquarters is expected to add five full-time jobs and 20 part-time jobs for teenagers at UTEC, the companies said.