News
APPELTON MILLS' SECOND LIFE
March 29, 2011
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| Trinity Financial?s Larry Sparrow is smiling with good reason:Phase 1 of the Hamilton Canal District, Trinity?s $800Mredevelopment of 13-acres in downtown Lowell is just days from completion. In April, the 130-apartment rental building will be ready for the first occupants, mostly artists and other creative types. About 100 apartments are already leased. Trinity did a $64M gut renovation on the former Appleton Mills for residents earning 30% or 60% of the area median income. The apartments range from a 600 SF studio— renting for $421 or $794—to a 1,400 SF two bedroom townhouse renting for $954. |
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| Soon, this ditch will be a paved, landscaped walkway bringing nature back to the old mill complex along the Pawtucket Canal. The 10-year project, due for completion in 2019, is planned for 15 buildings, four renovated and 11 new. They may include: two more multifamily buildings, an office, a theater, and 425k SF of office and retail space throughout the district. Financing is coming fromprivate, state, and federal sources. The development team: Trinity, ICON Architecture, CWC Builders, Winn Residential, Wilmer Hale and Reznick Group. With so many artists in the area, we're sure many are keeping their eyes open for wet concrete. |
