The City of Lowell has named Trinity Financial of Boston, as the private master developer for the Hamilton Canal District, a 15- acre parcel of land located at the gateway to Lowell's downtown, which will also include a new Lowell Trial Court. Trinity Financial will purchase, design, and market the project which will result in the creation of a new mixed-use neighborhood. Trinity Financial anticipates spending up to $500 million to complete the project over the next ten years.
"Trinity Financial presented the most complete and well-rounded response to the solicitation and demonstrated the best breadth of experience and skills related to all of the different components of this project," says Bernard Lynch, Lowell city manager.
The Hamilton Canal District developer selection committee evaluated three proposals received in response to Phase II of the Hamilton Canal District master developer solicitation. The review process for the finalists was extensive. Committee members interviewed each of the finalist teams twice prior to the submission of final proposals and once following submission of the final proposals. The review process also included tours of New England built works by each developer team.
"In Trinity Financial's twenty year history, we have not seen a development opportunity where the inherent challenges are so well aligned with our corporate mission, our skills and our past experiences." said Abby Goldenfarb, project manager.