UTEC Celebrates with Topping Off Ceremony
Lowell, MA
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PROJECT OVERVIEW
On September 20, 2011, the United Teen Equality Center (UTEC) invited state and local leaders to witness its Topping Off ceremony, an important milestone in the construction of the organization's expanded facilities. Governor Deval Patrick and state and U.S. representatives watched as construction crews placed the last beam atop the building's three-story, steel-frame addition.
UTEC's renovated and expanded facilities in a former church at 34 Hurd Street in Lowell, MA will include a cafe and commercial kitchen, performance center, and classrooms to house UTEC's youth education and workforce training programs. The building's energy-saving design features are expected to achieve LEED Platinum certification, making UTEC the first LEED Platinum-certified building in Lowell and the oldest building in the country to achieve such high standards of energy efficiency.
Affirmative Investments has worked with UTEC for three years as a full development and financial consultant, structuring approximately $11 million of financing through a New Markets Tax Credit structure. In addition to the NMTCs, the ultimate financing package included low-interest loans, energy related grants, numerous small and large individual and foundation contributions and state historic tax credits. The project has created more than 100 construction jobs and will foster 20 full-time jobs for UTEC participants.
PROJECT SPONSOR
United Teen Equality Center
AFFIRMATIVE INVESTMENTS' ROLE
Development Consultant and Financial Consultant
DEVELOPMENT PROGRAM
Renovate and expand downtown church building to include increased classroom and programming space, as well as a new café and food service training kitchen. LEED Platinum design features.
TOTAL DEVELOPMENT COST
$11 million
PROJECTED OPENING DATE
March 2012