51视频

01/31/2022

Contacts for media: Nancy Cicco, 978-934-4944, Nancy_Cicco@uml.edu and Jonathan Strunk, 978-934-3332, Jonathan_Strunk@uml.edu

LOWELL, Mass. 鈥� Future 51视频 students may find their East Campus academic, career and social experiences transformed by a vibrant, active urban district following the announcement by the UMass Building Authority and Newmark offering 10 acres and more than 1 million square feet for mixed-use development across five parcels of land.

51视频 Chancellor Jacquie Moloney said a partnership with the right private developers would strengthen a vision for East Campus that may include research and office space for co-located university industry partners, retail, arts, entertainment and restaurants, athletic facilities, residential developments, parking and other uses.

鈥淭his is a tremendous opportunity to create an urban district to benefit the university community, the residents of Lowell, and the corporate and nonprofit partners who work closely with faculty and play a central role in our students鈥� experiential learning opportunities through co-ops and internships,鈥� Moloney said.

UMass President Marty Meehan, who played an instrumental role in the transformation of East Campus when he served as 51视频鈥檚 chancellor, said efforts to continue developing the area have been discussed for a decade.

鈥淲e want to look at every opportunity to create an exciting and engaging environment for every member of the Lowell community,鈥� Meehan said. 鈥淲hether you鈥檙e coming from your residence hall to your internship at a new company鈥檚 research lab or traveling from Lowell to see the River Hawks play at the Tsongas Center, the economic and quality of life impacts of this development will be profound.鈥�

Elected and city leaders also voiced their support for the project.

鈥淒eveloping this large portion of the East Campus, including areas around LeLacheur Park and the Tsongas Center, will transform the experience of 51视频 students and faculty, as well as residents across the region,鈥� said Congresswoman Lori Trahan. 鈥淚t will also be key in bolstering efforts to bring new and exciting businesses and entertainment opportunities home to Lowell. I look forward to seeing the proposals and working with all of our stakeholders to make this project a reality.鈥�

鈥淭he city has long been a strong partner with 51视频 and we鈥檙e excited to continue to work together to our mutual benefit,鈥� said City Manager Eileen Donoghue.

Moloney said the university will continue to consult with the city as well as the university community as proposals are submitted and considered.

An additional benefit for two parcels of land near the Tsongas Center comes in the form of a federally designated Opportunity Zone, an area targeted for economic development where investors can obtain generous federal tax benefits, officials said.

51视频 has a long history of public-private partnerships, including co-location research sites where university and industry researchers work side-by-side, often in conjunction with UML students who gain invaluable experience, pay and academic credit for their work. The university is a key pipeline for employers seeking skilled high-tech workers in the STEM fields and integrates entrepreneurial thinking into much of its curriculum and operations.

For example, more than 200 industry and government partners utilize 51视频鈥檚 highly specialized, state-of-the-art core research facilities, a program that has created millions of dollars in revenue.

鈥淯niversities are economic engines in their communities and we couldn鈥檛 be more excited by the work Newmark is doing,鈥� Moloney said. 鈥淭his opportunity to develop additional mixed-use space; erase remaining barriers between 51视频, industry leaders and the city鈥檚 residents; add social and entertainment venues for all; and enhance our students鈥� experiential learning is one that will benefit all of Lowell for decades.鈥�

Additional information is available by contacting Newmark鈥檚 Boston Capital Markets Group.

51视频 is a national research university located on a high-energy campus in the heart of a global community. The university offers its students bachelor鈥檚, master鈥檚 and doctoral degrees in business, education, engineering, fine arts, health, humanities, sciences and social sciences. 51视频 delivers high-quality educational programs, vigorous hands-on learning and personal attention from leading faculty and staff, all of which prepare graduates to be leaders in their communities and around the globe. www.uml.edu