District Square
Parcel
5 Acres
Address
Merrimack Street
Haverhill, MA 01830
Status
Fully Approved
Design Phase Underway
Project Size
470,800 SF
Program
394 Units Multifamily
20,000 SF Retail & Restaurants
630 Space Parking Garage
Multifamily & Retail / Restaurant
Location
Gateway City
We entered into a joint venture in an off-market transaction with Trax and Lupoli to develop the residential components of District Square. Previously, Lupoli had obtained approvals for the master plan development in downtown Haverhill, consisting of three residential buildings, ground floor retail & restaurants, a separate shared parking garage, as well as acres of public open space and infrastructure improvements.
Uniquely, the development benefits from an in-place TIE agreement which provides real estate tax abatement for the property during its 20-year term. Structured parking and all public open space and infrastructure improvements are being built without any cost allocation to the residential buildings.
Haverhill is located approximately 45 minutes from downtown Boston along I-495 and is served by a MBTA Commuter Rail Station. This transformative project provides flexibility to phase construction and is envisioned to enhance the vibrant downtown district.
