North End Mixed Use Building Sold for $8.5 Million
The property at 240-250 Commercial Street in Boston's North End has sold to the Lupoli Companies for $8.5 million.
240-250 Commercial Street is a centrally located building in the North End neighborhood of Boston. The 22,331 square foot structure, is currently home to Billy Tse restaurant with office tenants on the upper floors.
$16.5 Million in Financing Secured for The Heights at Haverhill
The Lupoli Companies has secured $16.5 million in financing via Northern Bank & Trust for The Heights at Haverhill.
The Heights is an upcoming luxury, mixed-use development in downtown Haverhill that will serve as a catalyst for future development in the city. The prime location, downtown, and adjacent to the Merrimack River, will provide an upscale lifestyle and urban design for its residential and retail tenants.
SGA has designed an iconic tower featuring cantilevers of high-performance glass, pre-cast concrete rain-screens, and manufactured wood soffits. The 65,000 square foot, the ten-story building includes residential apartments, a sky lounge, on-site dining, roof deck, café, and outdoor terraces, plus leased educational space for Northern Essex Community College’s Culinary Arts and Hospitality Center, and incubator space for local entrepreneurs.
Lupoli and City secure infrastructure grant for Haverhill mixed-use development, groundbreaking anticipated by end of year
Lupoli Companies and the City of Haverhill have received a $1.9 million grant from MassWorks, which will fund infrastructure improvements associated with The Heights at Haverhill, a 10-story, 65,000-square-foot Downtown Haverhill mixed-use development Lupoli aims to break ground on by the end of this year. The grant will allow for an extension of Haverhill’s Merrimack River boardwalk, which will be located adjacent to The Heights at Haverhill, as well as the creation of 57 public parking spaces underneath Lupoli’s upcoming building, public green space and associated utility work.
Work on the boardwalk extension is expected to begin this October; The Heights at Haverhill will be located on Merrimack Street, Downtown Haverhill’s main avenue, and will replace an existing municipal parking lot and a single-story retail building, which will be demolished this Fall. The $30 million Heights on Haverhill will include a first-floor boutique restaurant and retail space; middle floors will feature office, educational, innovation and entrepreneurial space, topped off with luxury residences and a top-floor function space with an outdoor bar and fire pit.
2018 groundbreaking anticipated for downtown Haverhill luxury mixed-use development
The Lupoli Companies hopes to break ground in 2018 on The Heights at Haverhill, a 10-story, 65,000-square-foot luxury mixed-use development which would be the first new building in Downtown Haverhill to reach as high as 10 stories in 30 years. The $30 million building, now under review by the City of Haverhill, would be located on Haverhill’s burgeoning waterfront and would feature state-of-the-art residential, retail, office, medical and educational space.
Lupoli Companies planning $9 million development in Downtown Haverhill
The Haverhill City Council has approved the sale of a prime waterfront parcel in Downtown Haverhill to The Lupoli Companies, who is proposing to build a new $9 million mixed-use building on the parcel. In support of The Lupoli Companies' proposed project, Mayor Jim Fiorentini of Haverhill stated: "The development of this parcel would be a major boost to our downtown and to our entire city. This is one the best developments ever to come to our city."
Salvatore's owner proposes dynamic mixed-use development next to Lowell MBTA station
Lupoli Companies, owned by Salvatore's Restaurants and Sal's Pizza owner Salvatore N. Lupoli, has submitted formal plans to the City of Lowell for Thorndike Exchange, a proposed $30 million dynamic mixed-use redevelopment of a decaying 123,000 square foot mill building located next to the Lowell MBTA commuter rail station steps to the Pawtucket Canal. Lupoli proposes 118 loft-style residential apartments, 57,500 square feet of commercial office space and two restaurants across 6,750 square feet for a total of 189,320 square feet. The existing five-story mill building would be fully restored, and a new adjacent six-story residential building and one-story vertical glass addition to the existing building would be constructed. Resident amenities at Thorndike Exchange would include a fitness center. A total of 184 parking spaces would be provided including 64 on site and 120 in an existing parking garage located at the commuter rail station. The following are links to the Planning Board Narrative and site & floor plans for Thorndike Exchange, and the following is a link to the Thorndike Exchange website. The following are renderings of Thorndike Exchange:
View South along Thorndike Street
View North along Thorndike Street
Thorndike Exchange would be constructed in two phases. The first phase would entail renovation of the existing mill building and construction of 42 market-rate residential apartments as well as commercial and retail space. Phase Two would construct the new six-story building and one-story vertical glass addition to the mill building for 76 additional residential units. The 118 total residential units at Thorndike Exchange would include 19 studios, 58 one-bedroom/one-bathroom units, 25 two-bedroom/one-bathroom units and 16 two-bedroom/two-bathroom units.
In an interview with Banker & Tradesman, Lupoli explained that the vertical glass addition would be illuminated at night. "I want to signify there’s a different product in the Merrimack Valley, very slick and sexy, comparable to Boston," says Lupoli. Lupoli also explained that retail options at Thorndike Exchange would include a sports bar, smaller restaurants, a rooftop garden and a roof bar.
The first Lowell Planning Board hearing for Thorndike Exchange is tentatively scheduled for August 17th, 2016. The Lowell Sun reports that Lupoli is optimistic that construction of Phase One could start by October 2016, with residential occupancy by mid-2017. Site work at Thorndike Exchange is already underway, starting with interior sandblasting, removal of windows and exterior power-washing.