Since the creation of the Downtown Lowell Arts District in 1998, Downtown Lowell has enjoyed a development renaissance. The cache of urban living at a price well below Boston and Cambridge has attracted young professionals, empty nesters returning to the city, and others to invest in condominiums in converted mills and other buildings, many of which had sat vacant for years or even decades. The success of each project has inspired new developers to take on more and larger projects.
The primary attractions to Downtown Lowell are its urban context, arts, culture, beautifully preserved architecture, cobblestone streets, and unique system of waterways. Amenities including a minor league baseball affiliate of the Boston Red Sox, professional hockey, the only professional regional theatre in the area, major concerts, and unique restaurants all within walking distance add to that attraction. These factors set it apart from most other possible locations in the Eastern Massachusetts real estate market.
The Hamilton Canal District provides an opportunity to expand on this market by capitalizing on many of the same features, reinforced by convenience to commuter rail and highway transportation and the opportunity to create new construction which can provide greater flexibility for development to meet contemporary needs than restorations of existing buildings while still capturing the architectural character of a historic mill town.