Since moving here in January 2003 I have watched “downtown” evolve with new residents moving from metro Boston, NH, the surrounding areas as well as all parts of the country.
The demand for downtown residential properties is as strong as ever and has caused developers to take notice and pick up the pace to create new loft- live space out of old, abandoned, and empty buildings that were formerly used as banks, department stores, offices, mills, and factories. This new use for these buildings has created a downtown “buzz”. As a result of “downtown Lowell” now becoming a legitimate neighborhood new businesses such as La Boniche, Brew’d Awakening, Centro Bar & Grill, Mambo Grille, The Coffee Mill, Dharma Buns, Blue Taleh, Garcia-Brogan, Livingstone's Courthouse Deli, and many more have opened to serve the needs of the new residents. There is a still a need for more shops, businesses, restaurants, and creative concepts to open up downtown. The JAM Plan and the Hamilton Canal Project have begun. The new parking garage on Jackson Street is complete. This is a great opportunity for you to take the next step by becoming a part of this exciting, vibrant neighborhood.
Affordability is the #1 reason people are moving to “downtown Lowell”. Not only as residents but also to follow their entrepreneurial dreams of owning their own business. The real estate value you get for your dollar is by far still the best deal in all New England. Local downtown banks such as Enterprise Bank and Trust, Lowell Five, and Butler Bank are eager to work with you whether it be financing for a loft condo or a new business venture. First time buyers can contact Jim Wilde at the Merrimack Valley Housing Partnership to register for training seminars and information.
There are many reasons to move to downtown Lowell in addition to its affordability. There are many educational, social, entertaining, and theatre attractions within walking distance.
Parking is easy with five municipal garages offering reduced monthly rates. The downtown area is continuing to grow with many projects on the drawing board and others beginning any minute. There is plenty of opportunity for you. Whether it is buying a loft condo, opening a business, restaurant, or shop. As the city marketing campaign says “There’s a lot to like about Lowell”.
The Tsongas Center at UMass Lowell
The Merrimack Repertory Theatre
The JAM Plan
The Rebirth of Lowell: After years of study and debate on Mogan’s proposal to make Lowell a new kind of national park based on labor and industrial history, Congress established Lowell National Historical Park and the Lowell Historic Preservation Commission in 1978.
Arguing for the park legislation, then Congressman Paul Tsongas, a native of Lowell, defined the idea behind the park:
A number of years ago Lowell decided that its identity was important. Important to its people and the Nation. There are hundreds of people who should be credited for discovering this America. Many workers…wanted the good and the bad of the past preserved, rather than flattened and denied.
The first steps were modest, starting with the renovation of small downtown buildings. The movement quickly gained momentum, benefiting from a new public appreciation for industrial architecture and a belated realization that preservation should embrace working class history and culture. Lowell has once again become a place that is visited by planners from other cities, and even from other countries, who want to follow Lowell’s example of using public-private partnerships to bring new life to their communities.
Source: Lowell National Historical Park Handbook 140
Why choose Downtown Lowell?
The facts speak for themselves...
PEOPLE
A daytime population of over 15,000 students, residents, and workers crowd the streets of Downtown Lowell each day. Over 255,000 people reside within 7 miles of Downtown with an average household income of $75,214, and an average family income of $84,292. In addition, the City plays host to hundreds of thousands of tourists each year that attend the Lowell Folk Festival, concerts at the Tsongas Center at UMass Lowell, Sporting Events, Lowell Devils, and Lowell Auditorium, Lowell Spinners games, and the Performing Arts.
PLACES
Home of a National Historic Park, professional baseball and hockey, eight museums, an award-winning theatre, and the largest free folk festival in the country all of which contribute to over 2 million visitors to the Downtown area each year.
PARTNERSHIPS
Lowell's public-private economic development team has produced investments of $800 million in restoration, business development, and new growth during the city's revitalization efforts. Physical improvements in Downtown Lowell include the Hamilton Canal Project and JAM Plan.
INCENTIVES
The Economic Development Office provides an array of programs and financial incentives available to businesses and real estate developers doing business in Lowell.
INVESTMENT
The Downtown Venture Fund, administered by the City and local financial institutions, is a low-interest loan fund dedicated to development of retail, restaurants, and arts and entertainment venues. In its three years, the Fund has loaned over $2 million to assist in the opening or expansion of 23 new businesses in the heart of Downtown.
CREATIVITY
A burgeoning Arts District has attracted new residential and live/work space. Over 300+ new units have been recently developed in Downtown. The Artist District is anchored by several museums, including the recently relocated Renewal Communities in Massachusetts, a designation that offers a myriad of tax incentives for businesses. Downtown is also an Economic Opportunity Area which makes businesses eligible for many additional local and state incentives.
PARKING
Yes, Parking is available and cheap in Downtown Lowell! Five City-owned garages and one City-owned parking lot offer low rates and convenience as all of Downtown is within walking distance of a major parking facility.
HISTORY
The first industrial City in the country has since undergone a renaissance, but the signs of history remain throughout the Downtown. The entire Downtown is governed by a Historic District, which protects the integrity of the historical value and uniqueness of the City while working with businesses to promote economic development.
ACCESSIBILITY
City officials are accessible and committed to the development of Downtown Lowell. Partnerships between the private and public sector have made the City of Lowell special, and from Mayor James Milinazzo and City Manager Bernard Lynch and throughout all of the City offices, businesses will find the City of Lowell to be friendly, open, and always willing to help.
Source: http://www.lowellma.gov/depts/dpd/projects/downtown/why
Lowell tax rate is $13.27 per thousand
Lowell population is 105,167
Lowell County = Middlesex
Lowell = 14.54 square miles
Lowell Public Utilities
Gas & Electric – National Grid 800-322-3223 or NationalGrid.com
Cable – Comcast – 1 800 COMCAST
