Supporting Affordable Housing, Strengthening Community
Affordable housing isn't just about buildings. It's about neighbors. Stability. And making sure the people who call Lowell home can continue to do so.
That's why Lowell Five Bank is proud to announce the closing of a $12.5 million community development loan supporting the long-term preservation and future redevelopment of the North Canal Apartments, in the Acre Neighborhood in Lowell.
For decades, the apartments on Moody Street have been part of Lowell’s story. Built in the 1960s, North Canal Apartments made history when the tenants and the community stepped in to preserve the property and keep it affordable. Today, that story continues, with plans to create new, modern homes led by tenants that will provide affordable housing for generations to come.
Our financing will help protect 267 income-based apartments while supporting the work of Coalition for a Better Acre (CBA), a trusted community partner that has been helping Lowell families access affordable housing and build brighter futures for more than 40 years.
“Lowell Five Bank is passionate about reinvesting in the communities we serve,” said Sandeep Jain, SVP, Commercial Lending at Lowell Five Bank, who worked closely with CBA to secure the financing. “By funding organizations and initiatives that directly impact our neighborhoods, we can help create stronger, more vibrant communities for everyone.”
At Lowell Five Bank, we believe community investment takes more than checking the usual boxes. It means going outside the box for our community—supporting projects that preserve opportunity, strengthen neighborhoods, and keep Lowell a place people are proud to call home.
