UMass Lowell has sold its 34-acre west campus for $3.245 million to Alice Cui of Lexington. Cui is part of a three-person group who purchased the property and said they plan for residential development on the land.
UMass Lowell’s share of the purchase price is $2.95 million, and the total $3.245 million purchase price includes a 10 percent buyer’s premium, a university spokesperson said.
“UMass Lowell is pleased with the outcome of the auction of the former West Campus property. We will reinvest the revenue generated from the sale of this land into improvements to our existing research and academic facilities on our three vibrant campuses in Lowell,” said Christine Gillette, a university spokesperson, in a statement. “We appreciate the support of Chelmsford town officials and our state legislators.”
In August 2018, UMass Lowell had been cleared by the state Legislature and Governor Baker to sell the property in Chelmsford. West Campus will head to auction this spring (2019), but the college has yet to state a price.
UMass Lowell's 34-acre former West Campus, located at 255 Princeton St., has been vacant for several years. With the university deciding the property has no place in its master plan and seeking special legislation to dispose of it, Chelmsford wants to have a voice in its fate.
According to the legislation, the state commissioner of capital asset management and maintenance, in consultation with the chancellor of UMass Lowell, may sell, lease up to 99 years with renewals and extensions, or otherwise grant, convey or transfer the 225 Princeton Street property to one or more purchasers or lessees.
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