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Lowell Historic Board Okays Redevelopment of 1960s-Vintage Affordable
A $40-million project to redevelop downtown Lowell, MA cleared a major hurdle when the Lowell Historic Board approved the plan. New North Canal LLC and the Coalition for a Better Acre received approval to redevelop a slate of buildings at 463 and 281 Moody St.
New North Canal LLC, in partnership with the CBA, plans to tear down 116 units of existing affordable housing across 14 buildings into 160 units of new construction affordable housing at 281 and 463 Moody. The plan represents the first two phases of a three-phased development in the Acre neighborhood.
The North Canal properties were constructed in the 1960s during the postwar urban renewal wave. However, CBA and its property management company, Maloney Properties, said that while they have worked to maintain the complex, the properties “were built with poor design and materials and have not stood the test of time, limiting what we can achieve for residents’ quality of life.”
- ◦Development
