Construction is set to begin next year on a roughly $800 million mixed-use project on the UMass Lowell campus that’ll include professional space for technology companies, housing units and dorms.
The project, in which UMass Lowell is giving up underutilized parts of its east campus next to downtown in a 99-year ground lease, is eyed by the university as a catalyst to improve industry partnerships, improve the surrounding neighborhood and help keep new graduates in the city.
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UMass Lowell Chancellor Julie Chen said the project is envisioned as taking on greater significance than simply building new density on the edge of Lowell’s downtown.
“It's an economic development project for Lowell and the greater Lowell region,” Chen said. “That just happens to be catalyzed by a couple buildings on the university's campus.”
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