The Abrams Group to Develop the Historic Gleason
Building in Lawrence, MA

 
PR Newswire

LAWRENCE, MASS.--The Abrams Group, Boston-based developer of multi-family and commercial properties, today announced that it has been granted approval by the City of Lawrence to convert the historic Gleason Building into 16 loft-style condominiums.

The six-story signature Essex Street property will undergo a complete rehabilitation, resulting in units that average 850 square feet and include wood floors, nine-foot ceilings, and exposed brick. Prices will range from $150,000 to $175,000.

"We're very excited to be a part of the revitalization of Essex Street and look forward to restoring a city landmark to its former brilliance," said Matthew Abrams, founding manager of The Abrams Group. "In nearby Lowell, where we carried out a similar loft-style restoration of a historic building on a much larger scale, that project has been an immense success."

The Gleason building was added to the National Register of Historic Places in 1982.

In addition to a complete restoration of the building's exterior, plans call for a new elevator, windows, roof and life safety systems. Each unit will include two garage parking spaces. The city's Planning Board and Zoning Board of Appeals have approved plans for the project, which is scheduled to begin in late Summer.

The Abrams Group specializes in the investment and development of multi-family and commercial properties in eastern Massachusetts with a focus on the redevelopment of functionally obsolete buildings into for-sale or rental residential housing. Other current projects include the development of 97 loft–style condominiums in Worcester.