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MassDevelopment

Riverwalk Properties

Riverwalk Properties, Lawrence

Salvatore Lupoli is leading the transformation of Lawrence’s Riverwalk Mill complex. The developer needed $32 million to revitalize 210,000 square feet of commercial space, including the future home of NxStage Medical. But the project couldn’t support a debt level that high. Eastern Bank and MassDevelopment formed a critical partnership. Together, we structured a deal that included a $28.37 million financing package, a $6.5 million New Markets Tax Credit, and a $3 million loan. The Riverwalk project was able to move forward. In the first phase of redevelopment alone, 2,400 jobs have been created. And new tenants like NxStage Medical and Enterprise Bank are helping transform the City of Lawrence.