Lowell, MA The City of Lowell received a $2 million MassWorks grant to support the widening of Thorndike St. This key infrastructure project will ease traffic flow along one of the city’s major roadways and improve access to Lupoli Development’s Thorndike Exchange, which is slated to open in late 2017.

Housing and Economic Development secretary Jay Ash, state senator Eileen Donaghue, city manager Kevin Murphy, representative David Nangle, Chelmsford town manager Paul Cohen, and Lupoli Companies president and CEO Sal Lupoli gathered at the Thorndike Exchange site to announce the grant, and discussed the positive impact the project will have on the area.

“This show of support from the Baker Administration and our legislative delegation is a terrific honor and we are ready to work with the dynamic leadership team here in Lowell to continue revitalizing this great city,” said Lupoli. “Thorndike Exchange will create an ideal live-work-play environment, putting beautifully appointed market-rate apartments, Class A office and retail space right next to the commuter rail and in the heart of Lowell’s vibrant downtown. This development will continue the City’s incredible renaissance, and we are proud to be a part of it.”

Lupoli Development is responsible for transforming the old Thorndike Factory Outlet and Comfort Furniture mill into a thriving ecosystem of commercial, retail and residential space. The renamed Thorndike Exchange will be a major mixed-use development for Lowell, one of Massachusetts’ key Gateway cities. The project includes the meticulous restoration of the originalstructure as well as the addition of a new, modern multi-story tower which will offer market-rate loft style apartments, modern dining options and Class A office space. Thorndike Exchange’s dynamic transit-oriented development located immediately adjacent to the MBTA Commuter Rail at the Gallagher Terminal will help foster innovation and growth in Lowell by appealing to the growing tech sector seeking a work-live environment with immediate access to public transportation.

“The spirit of partnership at the heart of the MassWorks Infrastructure Program is a key component of our ongoing efforts to prepare communities for economic success, and to promote strong, vibrant regions,” said Housing and Economic Development Secretary Jay Ash. “The public-private partnerships we advance through these infrastructure awards will build a stronger economy for everyone who lives and works in Massachusetts.”

The MassWorks Infrastructure Program provides grants to public infrastructure projects that generate additional private sector investment. Each year, the MassWorks program allocates 10 percent of awarded funds to assist municipalities with populations of 7,000 or less in completing roadway safety and transportation improvement projects. The 2016 grant round generated 114 applications, requesting $287 million in public infrastructure grant funding. Infrastructure projects awarded in the 2016 grant round will generate $1 billion in private investment in communities.

In August 2016, governor Baker signed An Act Relative to Job Creation and Workforce Development to reauthorize MassWorks and support $500 million of future investment in critical infrastructure, a significant commitment by the Commonwealth. The Baker-Polito Administration has increased MassWorks funding by $35 million over the past two fiscal years. Lupoli Development is a vertically integrated owner, operator and developer of a mixed-use real estate portfolio that includes more than four million square feet of commercial, retail and residential property. From adaptive reuse and asset repositioning of historic mill buildings to ground-up construction and comprehensive property management, Lupoli Development combines proven expertise, a diverse set of capabilities, and a strategic approach to enhance operational performance and productivity. With large-scale projects throughout Northern New England, Lupoli Development stimulates economic growth within the region with a notable focus on Gateway Cities.