246.1 Market Street is one of the last undeveloped former mill sites in the entire city of Lowell. Located off Market Street and sandwiched between larger mill buildings and the Pawtucket Canal, these two leftover structures are vacant, blighted and obsolete for their intended purposes. Known as the PowerHouse and Coal Pocket/Boiler House, the former turbine and coal fired boiler buildings are among the most challenging buildings left to re-develop. These remnants of Lowell’s industrial past have languished amidst Lowell’s revitalization successes, which has been driven by the conversion of the city’s old mill buildings into housing or office/commercial uses.
Recognizing the opportunity for transformative development where other developers saw barriers, Monahan Technologies, Inc. (MTI) acquired the property with a commitment to wade through the challenges that the site presents and deliver a project that meets a myriad of community goals and public purpose. With conceptual plans in place for a conversion to housing, MTI is advancing planning efforts to convert the buildings into much needed housing in the Greater Lowell region.
AHF is providing tax credit consulting and grant writing services to MTI, to assist in the pre-construction site preparation and planning required to reposition these thriving downtown assets for Lowell. AHF recently completed an Underutilized Properties Program application that will support remediation and clean-up at the 1899 Coal House/Boiler House.
