Proud of its heritage, Lowell continually invests in its future while preserving its rich history, culture, and quality of life. Lowell first "reinvented" itself in the early 1980's when some of the world's leading high-tech firms established their headquarters in Lowell.
Today, dynamic public/private partnerships are the driving force behind the extraordinary level of community investment currently underway in Lowell. Leading the way in economic and community development projects are the Lowell Plan, a private, nonprofit economic development corporation, the Lowell Development and Financial Corporation, a quasi-public lending agency, MassDevelopment, a state investment band and real estate development agency, and the City's Division of Planning and Development.
Working with state and federal officials, these groups sponsor programs and incentives to encourage private investment in building renovations, infrastructure improvements, business development, and job creation.
Examples of Major Private/Public Investments in the City of Lowell
|Acre Market Basket||$8M||Complete|
|Acre Neighborhood Revitalization||$64M||In progress|
|Arcand Drive Extension||$2M||Complete|
|Ayer Lofts "Artist Live/Work Space"||$4.7M||Complete|
|Bon Marche Building Renovations||$6.3M||Complete|
|Boot Mills Renovations||$25M||In progress|
|Cawley Stadium Sports Complex Phase I & II||$2.3M||Complete|
|Canal Place III||$11M||Complete|
|Central Business District (CBD) Improvements||$4M||Complete|
|Cross Point Towers||$17M||Complete|
|Gateway Center Complex Phase II||$4M||Complete|
|Hamilton Canal||$240M||In progress|
|Jackson-Appleton-Middlesex (JAM) Plan||$50M||In progress|
|Lawrence Mills Renovations||$25M||In progress|
|LeLecheur Baseball Stadium||$10M||Complete|
|Lowell Canal Improvements||$7.72M||In Progress|
|Lowell General Hospital Cancer Care Center||$2M||Complete|
|Lowell High School Renovations||$41M||Complete|
|Lowell Public Schools (New/Renovated)||$100M||In progress|
|Lowell Regional Transit Authority (LRTA) Expansion||$13M||Complete|
|Lowell Water Treatment Facility Upgrade||$8.3M||Complete|
|Massachusetts Mills Phase I and II Renovations||$58.5M||Complete|
|Park Restorations and Upgrade City-Wide||$1.2M||In progress|
|Paul Tsongas Arena||$28M||Complete|
|Pollard Memorial Library Renovations||$8.5M||Complete|
|Roadway and Traffic Signal Improvements||$14.5M||Complete|
|American Textile Museum||$9.8M||Complete|
|UMass Lowell Facility Improvements (North & South Campus)||$10.6M||In progress|
From 1975 to the mid 1990s, more than 250 historic buildings have been restored. Sixth-three structures alone generated $52 million in private investment with only $5.4 million in federal loans and grants. Since early 2003, investment in the Downtown Lowell Historic District and Acre Neighborhood District has been unprecedented with over $200 million in development completed, underway, or planned among 33 projects through 2006.
In 2004, the City of Lowell and the Lowell Development & Financial Corporation (LDFC) assisted in the purchasing of 63 homes representing an investment of $12.9 million dollars. Also, during the same period, 604 families attended the "Project Genesis Homebuyer Training" program conducted by the Merrimack Valley Housing Partnership.