Lowell Sun: Developers recieve $3M loan for project
Lowell Sun Article 09/19/2019
LOWELL — MassDevelopment and Washington Savings Bank joined forces to provide a $3 million loan for the construction of affordable, energy-efficient housing units on West Third Street.
Residence at Mill Square LLC, an affiliate of Degmar Development Corporation, used the $3,062,700 loan to purchase land at 27 West Third Street for the construction of a 21-unit building.
Peter Marlowe, co-owner of the Lowell-based development company, expects the apartments to be move-in ready by Jan. 1. Builders broke ground on the project in November.
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