Thorndike Exchange Update 08/08/16

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:


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Aerial view


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View South along Thorndike Street


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View North along Thorndike Street


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Aerial view


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.

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