Introducing the Merrimack Corridor Development Project
Following a year of strategic planning and rigorous analysis, RENU is moving forward with the Merrimack Corridor Development Project, a shovel-ready initiative designed to bring 118 units of high quality, affordable rental housing to the heart of Lowell.
From Underutilized to Unstoppable
Working alongside the architectural experts at Zero Energy Design, we identified a 1.05 acre parcel across Decatur, Cabot, and Merrimack Streets with incredible potential. What was once vacant land adjacent to the Mercier Center will soon become:
The Decatur St. Site: A six-story building featuring 90 units.
The Cabot St. Site: A four-story building featuring 28 units.
A Partnership for Progress
Realizing a project of this scale requires a dream team. We are proud to have executed a Memorandum of Understanding with Trinity Financial, Inc. as our development partner. Together with the Lowell Housing Authority and the RENU Board of Directors, we have crafted a plan that ensures these homes remain accessible to those who need them most.
Deep Affordability Where It Matters
We aren't just building apartments, we are building stability. The 118 units are thoughtfully designed to serve a range of families:
90 Units will be highly affordable, with residents paying just 30% of their adjusted gross income, supported by Project-Based Vouchers and HUD subsidies.
28 Units will be designated for households earning up to 80% of the Area Median Income.
Family Centric Design: The mix includes 42 one-bedroom, 61 two-bedroom, and 15 three-bedroom units to accommodate families of all sizes.
The Road Ahead
The Merrimack Corridor Project is currently in a critical phase. We have officially submitted our final application to the Executive Office of Housing and Livable Communities for essential funding and tax-exempt bond volume caps for 2026.
While we await a decision (anticipated in February 2026), our team isn't slowing down. We are actively finalizing:
Equity Investor Partnerships
Construction Contractor Proposals
Environmental Reviews and HUD due diligence
Thank You for Standing With Us
This project has received overwhelming support from our local government and the Lowell community. It is a testament to what we can achieve when we prioritize the housing needs of our neighbors.
We look forward to breaking ground and continuing our work to make a lasting, positive impact on the lives of Lowell residents. Stay tuned for more updates as we move closer to making these 118 homes a reality!