Lowell Sun | By Grant Welker
October 25, 2016
LOWELL – High-end condominiums – 63 to be exact – are envisioned for a new building just off Lower Locks, with prices not often seen in Lowell: between $400,000 to potentially as high as $900,000.
The luxury condos would be in a new building on Merrimack Street overlooking the Concord River. It will feature a glass facade with touches of limestone that echo the stately architecture of the nearby Lowell Memorial Auditorium and Middlesex Community College’s Federal Building. If the project goes forward, it will be the ninth substantial housing development approved in Lowell that, taken collectively, is dynamically changing the downtown residential landscape. At present, developers have received approvals to build 665 residential units, and a majority of them are under construction. That total does not include a 438-unit private dormitory being constructed at the former Lowell Five bank headquarters.
The projects are generating more than $140 million in economic development in the city.
The developer of the luxury condo project, Pridestar EMS CEO David Daly, has not yet formally submitted permitting applications but said he’s been working with city officials on his plans for several months.
Daly has proposed knocking down the current brick building, which is the former home of several nightclubs over the years, and more recently, a theater and café for Middlesex Community College. He said he considered a new use that would include space for Middlesex or UMass Lowell, and then considered a hotel after several city councilors expressed a desire for one.
“The market wasn’t there then and isn’t there now,” he said of a hotel.