Connect News Commercial Real Estate news for every market and every facet, every day.
Connect CRE Events Live and virtual events bringing together the best of information and networking.
CRE Industry Events Live industry events.
Connect Creative A full service marketing and PR agency.
Connect Classroom Offering CRE focused continuing education courses on demand.
ApartmentBuildings.com Is a dynamic platform to search for, list and promote multifamily listings nationwide.
Connect Awards View the A-list of commercial real estate & submit nominations.
Connect Media Kit Advertise, Promote, Attend, Create – Work with Connect.
Loantuitive Find the right lender for your loan.
About Connect Meet the team behind the machine and taste a little of the secret sauce.
Connect News

Your source for daily news covering CRE transactions and trends. Stay informed on national, regional and property sector news that matters to your business.

Connect Classroom

Offering on-demand online courses that provide continuing education credits for brokers, attorneys, appraisers and architects. Select from easily accessible video and written courses that cover a variety of CRE topics.

Find Your Course
High-rise commercial buildings

STAY INFORMED

News when you need it. All our Breaking News, right to your inbox.

Sub Markets

Property Sectors

Topics

Boston & New England CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Boston & New England  + Massachusetts  + Finance  |  June 22, 2023
Emily Fu
By: Emily Fu

MassDevelopment, Reading Cooperative Bank Provide $7M for Lawrence Vacant Buildings Redevelopment 

MassDevelopment has partnered with Reading Cooperative Bank to provide $6.6 million in loan financing to 115-125 Essex Street LLC, an affiliate of Jowamar Companies, for the redevelopment of two vacant buildings in Lawrence, Massachusetts.  

The project involves converting the buildings into a new five-story mixed-use building with ground-floor commercial space and 24 market-rate apartments. One of the ground-floor commercial units will house a food hall featuring multiple restaurants.  

The loan was a 50-50 participation between MassDevelopment and Reading Cooperative Bank, with MassDevelopment also providing a guarantee. The construction is set to commence in July 2023 and expected to be completed by June 30, 2024. 

Connect

Inside The Story

About Emily Fu

Emily Fu is Content Director of Connect Commercial Real Estate, where she covers the east coast markets, including New York, Boston & New England, and DC & Mid-Atlantic markets. She produces daily news stories as well as longer-form content, ranging from Q&As to thought-leadership pieces. She also writes feature stories for Connect Money. With previous stints at Reuters, Seeking Alpha, and Commercial Observer, Emily has covered the finance side of the commercial real estate industry, technology, media, telecom (TMT), and fashion. She attended the Columbia Graduate School of Journalism and currently resides in Manhattan.
Order Reprints
  • ◦Financing