The Abrams Group Develops 135-unit Apartments for $15 Million in Lowell
Owners, Developers & Managers
BOSTON – The Abrams Group LLC, a Boston-based real estate investment, and development company, is transforming an historic textile mill in Lowell into 135 luxury, market-rate loft apartments. The building had been the site of the Dutton Yarn Co.
Government and business leaders are hailing the development as one of the most significant downtown projects in many years in Lowell, a city where “There’s a Lot to Like:”according to the municipality’s long-running marketing campaign. The building, acquired in April, had been home to Giant Department Stores in the late 50s and 60s.
“The building and the market were just perfect for this type of development,” according to Matthew Abrams, president and founder of The Abrams Group. There is a real need for market-rate housing in the Greater Boston region and our loft concept in the suburbs is unique for this area.
The units, ranging in size from 800 square feet, one-bedroom units to 1,500 square feet, two- bedrooms, feature 12-foot exposed ceilings, wood floors, 17×10 foot windows, gourmet kitchens with granite countertops, and ample parking.
The city, home of the Industrial Revolution, UMass-Lowell, the Tsongas Arena, professional baseball and hockey teams, is situated 30 miles from downtown Boston.