MassDevelopment And Reading Cooperative Bank Provide $6.6M Loan For Redevelopment Of 115-125 Essex Street In Lawrence, MA

The property at 115-125 Essex Street in Lawrence, MA is a development site that has recently undergone a revitalization project. The two vacant buildings on the site have been restored to their former glory with the help of a $6.6 million loan financing provided by MassDevelopment and Reading Cooperative Bank. This loan has enabled 115-125 Essex Street LLC, an affiliate of Jowamar Companies, to transform the site and breathe new life into it.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $6,600,000
• Lender: MassDevelopment & Reading Cooperative Bank
• Landlord: Affiliate of Jowamar Companies

The collaboration between MassDevelopment and Reading Cooperative Bank has played a crucial role in the successful redevelopment of these buildings. Their support has allowed 115-125 Essex Street LLC to bring new opportunities and economic growth to Lawrence, Massachusetts. The transformation of the vacant buildings will have a positive impact on the local community, attracting businesses and creating jobs.

Through their expertise and financial backing, MassDevelopment and Reading Cooperative Bank have demonstrated their commitment to supporting local development and revitalization projects. The partnership between these two organizations and 115-125 Essex Street LLC has set a precedent for future collaborations, showcasing the potential for further revitalization efforts in Lawrence, Massachusetts.