71-75 Common Street, Lawrence, MA 01840 (MLS # 73488625)
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Northmarq is pleased to present the ICONO Development, a fully approved residentialdevelopment opportunity located at 71-75 Common Street and 37 Newbury Street in the heart ofdowntown Lawrence, Massachusetts. The project is approved for the construction of 60 market-rateresidential units set above a 55-car structured garage, combining modern design with functionalityto meet the growing demand for high-quality urban housing in one of the Merrimack Valley's mostrapidly transforming cities.To the future owner's advantage, the ICONO Development has been awarded a $2.5 millionHousing Development Incentive Program (HDIP) tax credit for calendar years 2025, 2026, and2027, significantly enhancing project feasibility and investor returns. This valuable state incentiveunderscores the City of Lawrence's commitment to supporting new residential development in itsurban core and adds meaningful value to the project's overall financial profile.
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Listing provided by Michael Chase, James M. Murphy
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