New Markets Tax Credit Coalition

UTEC, Lowell, MA

Investment

  • NMTC Amount: $4,500,000
  • Total Project Cost: $4,766,100

IMPACT

  • 6 FTE jobs
  • 96 construction jobs
  • 2 jobs created and 4 jobs retained. UTEC expects to be able to create an additional 56 program slots annually equating to enrolling an additional 19 unique young adults in its Woodworking program annually.
  • 28,500 sq. ft. of real estate

CDEs

Investor

Project Description

Project entails the renovation of a 2-story, ~28,500 sq. ft. commercial warehouse building located at 70-80 Church Street, Lowell, MA into a Woodworking Social Enterprise center for UTEC, Inc. (~12,800 sq. ft. on the 70 Church side of the building), and on the 80 Church Street side of the building: ~12,700 sq. ft. for UTEC’s office, classroom, training, and event space, and ~3,000 sq. ft. of ground floor retail space for a to-be-identified tenant.

MAP

Address: 70-80 Church Street, Lowell, MA 1852

Census Tract: 25017310101

Other Massachusetts Projects

NMTC financing for a Retirement home and health clinic
The expansion of an existing Federally Qualified Health Care facility located in Dorchester, MA known as Dorchester House Multi-Service Center.
The new construction of a six-story, 78,900 sq. ft. community health facility for the Whittier Street Health Center Committee, Inc.
NMTC financing supported an ophthalmology clinic in Fall River, Massachusetts.