UMass Lowell to Transform Campus with $800M Project
UMass Lowell is embarking on an ambitious $800 million mixed-use project on its campus, set to begin construction next year, Boston Business Journal reported. The project, which involves a 99-year ground lease of underutilized parts of the east campus to a developer, aims to revitalize the area adjacent to downtown Lowell.
The development will include professional space for technology companies, housing units for young professionals, and student dorms. UMass Lowell sees this project as a catalyst for improving industry partnerships, enhancing the neighborhood, and retaining graduates in the city.
The first phase will feature buildings designed to complement the university’s STEM-focused curriculum, while a second phase will include student housing. The project is a partnership between UMass Lowell and developers GMH Communities and Wexford Science & Technology. Construction is expected to be completed in 2027, with the project showcasing Lowell’s potential for large-scale development.
Industry leaders and power players are connecting at Connect Phoenix Multifamily & Single-Family Build-to-Rent on April 18 at the Westin Kierland Resort & Spa. Don’t miss the expert’s take on where the market is headed, and what changes are on the horizon. Register Now!
