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Lowell High School Transformed Into Affordable Housing Complex

Jan 21, 2011 | Reprints | Unlock Link | Print

L to R: Brian Martin (head of Niki Tsongas’s office in Lowell), Wendy Cohen (Mass. DHCD), Emily W. Rosenbaum, (Executive Director of CBA), Lowell Mayor James Milinazzo, Chris Traczyk (TD Bank), Elkin Montoya (CBA Board of Directors) and Peter Sargent (MHIC) at the ribbon cutting ceremony. Lowell’s St. Joseph High School, which closed its doors in 1992, has been transformed into a 22-unit affordable housing project.

A ribbon-cutting ceremony was held yesterday for the affordable housing project at 760 Merrimack St. in Lowell’s Acre neighborhood. The Acre High School Apartments were developed by the Coalition for a Better Acre (CBA) with a $4 million low-income housing tax credit equity investment from Massachusetts Housing Investment Corp. (MHIC), with TD Bank as the sole investor, according to a statement.

The $7.5 million project also received financing from Enterprise Bank, the state Department of Housing and Community Development, the city of Lowell and from sponsor loans.

Residential Real Estate