The Turbine Building, The Boiler House and The Coal Pocket

Investment Overview

The project “246.1 Market Street” is a unique opportunity to redevelop one of the last Mill buildings in the Original Boott Mill Complex, located in Lowell MA.

Investment Highlights

• The property is located in the existing Boott Mill Industrial Complex of mixed use residential and commercial office space. Strategically, located in the City of Lowell Hamilton Canal District, an area of over 2,000,000 square feet of mixed-use development, including Commercial and Residential space, just steps away from the new Federal Courthouse. Highly-accessible to public transportation, the walk time to the Lowell T station is approximately 5 minutes.
• With significant traffic and infrastructure improvements, the Hamilton Canal District is considered the Gateway to downtown Lowell, and an area of significant revitalization.
• The Property, 246.1 Market Street, includes a land area of approximately 1 acre, nestled within the complex and consisting of three distinct structures. The Turbine Building, The Boiler House and The Coal Pocket, representing an opportunity for approximately 60 units of residential apartments. Each building having a unique purpose in a complex that long since changed and now remain dormant and ready for redevelopment.
• Phase One is fully-permitted and encompasses the Turbine Building. Phase 1 includes (23) residential units (20,928 SQFT) over (5) levels
• With all demolition complete and all utilities brought to the building, Phase 1 is ready for development.
• Phase 2 is comprised of the Coal Pocket and Boiler buildings which are in an “As-Is” condition at sale for the development of an additional 40 units.