Lowell's Housing Mix Drives Development Forward

From low-income to market-rate, the city's diverse housing stock is helping it meet its affordable housing goals.

Apr. 12, 2026 at 10:50am

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A photorealistic studio still life featuring a collection of premium, polished objects arranged elegantly on a clean, monochromatic background, representing the abstract concepts of real estate development, urban planning, and community investment in Lowell.A conceptual still life captures the diverse mix of housing development driving Lowell's progress.Lowell Today

Lowell is seeing a mix of housing development, from smaller personal property owners building 1-8 units to larger commercial developers building hundreds of affordable, low-income, and market-rate apartments. The city is on track to meet its goal of 800 new affordable housing units by 2040 through projects like The Emery, The Residences at the Franco, and the Lowell Innovation Network Corridor.

Why it matters

Lowell's diverse housing stock, ranging from low-income to affordable to market-rate, is helping the city address its affordable housing needs and revitalize neighborhoods like the Jackson/Appleton/Middlesex area. The mix of development, from smaller personal projects to larger commercial ones, is a key part of Lowell's Lowell Forward Master Plan to create inclusive, sustainable communities.

The details

In the past year, nearly 100 dwelling units were permitted from smaller personal property owners, while almost 500 housing units were permitted from larger commercial developers. These include market-rate projects like The Emery, which will bring 37 apartments, and The Residences at the Franco with 80 units, as well as affordable housing developments like the 49 units at 733-735 Broadway St. and the upcoming 118-unit Merrimack Corridor Development. The city has also approved 160 more affordable units in the Acre neighborhood.

  • From October 2024 to October 2025, nearly 100 dwelling units were permitted from smaller personal property owners.
  • In the same timeframe, almost 500 housing units were permitted from larger commercial developers.
  • The Emery project broke ground last year and is expected to open in the fall of 2026.
  • The Residences at the Franco received approval for 80 market-rate units in 2025.
  • The Lowell Innovation Network Corridor is expected to bring nearly 500 new market-rate rental units to the city's East Campus.

The players

Heritage Properties

A locally owned and operated real estate investment, development and management firm that is developing The Emery project.

Jeff Bush

The president of Heritage Properties.

Tom Golden

The city manager of Lowell, who Heritage Properties said has been an excellent partner.

Ali Carter

The economic development director for the city of Lowell, who called The Emery 'a tremendous improvement' to the Jackson/Appleton/Middlesex area.

Cabot, Cabot & Forbes

The developer that received Historic Board approval for two six-story buildings with 362 market-rate apartments in the Hamilton Canal Innovation District.

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What they’re saying

“We're really excited. There's a lot of momentum on the street and in the city.”

— Jeff Bush, President, Heritage Properties

“City Manager Tom Golden and his administration have been excellent partners.”

— Jeff Bush, President, Heritage Properties

“The Emery references Lowell's identity as the 'Spindle City,' with a legacy of textile manufacturing.”

— Heritage Properties

What’s next

The Emery project is expected to open in the fall of 2026, while the Lowell Innovation Network Corridor development on UMass Lowell's East Campus is still in the works.

The takeaway

Lowell's diverse mix of housing development, from smaller personal projects to larger commercial ones, is helping the city meet its affordable housing goals and revitalize neighborhoods as outlined in the Lowell Forward Master Plan. This balanced approach is driving the city's progress in creating inclusive, sustainable communities.