WinnCompanies’ new development will offer 15 studio, 63 one-, and 47 two-bedroom apartments in Lowell, Mass. The two residential buildings will be linked by an enclosed sky bridge spanning Canal Street, a nod to Lowell’s history when similar connectors joined industrial mill buildings. The sky bridge will also compliment the new signature bridge the city recently built over the lower Pawtucket Canal.
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WinnCompanies announced that it has closed on the financing needed to transform two vacant, side-by-side parcels in Lowell, Mass., into the company’s fifth mixed-income development featuring workforce housing.

WinnDevelopment will improve the 1.14-acre site, known as Parcels 8 and 9, with two five-story buildings, featuring 125 apartments and 5,000 square feet of commercial space. Located in Lowell’s Hamilton Canal Innovation District, it will be a true mixed-income project—54 workforce apartments will rent at 100% of the area median income (AMI); 39 units will be affordable up to 60% of the AMI; and, 32 apartments will rent at market rates.

“This project will advance our goal to increase the supply of quality housing that is affordable for all income levels,” said Larry Curtis, president and managing partner of WinnDevelopment. “It will be a true mixed-income community, offering a mix of affordable, middle-income, and market-rate units that support local and state housing goals, as well as Lowell’s desire to stimulate economic activity downtown. This strong public-private partnership provides a model for how we can expand access to quality housing in underserved communities going forward. WinnCompanies is committed to promoting social equity and economic opportunity through our mixed-income development projects.”

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