Conrad Gauthier 1936-2008Market Basket plans major project at Bridge Street plaza in Lowell
By Michael Lafleur, mlafleur@lowellsun.com
Article Last Updated: 06/06/2008 06:42:49 AM EDT
LOWELL — Executives with Retail Management and Development Inc., the real-estate arm of the DeMoulas Market Basket supermarket chain, are planning a $15 million reinvention of their Bridge Street shopping plaza.
Work is expected to get under way this fall. During an official announcement yesterday at City Hall, RMD Vice President Michael Kettenbach said company officials hope to have the store open by about Christmas 2009.
The project involves shrinking the size of the plaza from the 130,000 square feet of retail space that exists there today to about 110,000 square feet. However, the size of the plaza’s anchor tenant, the Market Basket store, will increase by more than 40 percent — from 46,000 square feet to 66,000 square feet.
As part of the renovations, which involve tearing down and rebuilding the shopping plaza, the vacant Ames department store that many believe has been an eyesore for years will be razed and replaced with new retail space.
Kettenbach said all existing tenants will be retained, adding that there will also be about 15,000 square feet of space for new, as yet unidentified tenants to occupy.
He added that all tenants will be able to remain open in the plaza during the various phases of construction.
“We’re really looking forward to giving this city and this community something they richly deserve for their support over all these years,” Kettenbach said.
Street site, according to Kettenbach, is the second-oldest in the supermarket chain. Valley Properties Inc., a real-estate interest controlled by the Demoulas supermarket family, is the actual owner of the Bridge Street plaza.
Mayor Edward “Bud” Caulfield yesterday greeted news of the new project enthusiastically, saying, “We’d like to have one of these every week.”
“Lowell certainly wouldn’t be what it is today without the Demoulas family getting their start out here on Dummer Street,” he said. “This type of investment is certainly a credit to the corporation, and it’s something we here in the city are very excited about.”
©Lowell Sun 2008
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Centralville Neighborhood Action Group Mission Statement
Centralville Neighborhood Action Group-CNAG is a progressive and dynamic group of residents and businesses in the Centralville section of Lowell, Massachusetts. Closely linked to the fabric of our community, we are committed to and dedicated to the enhancement of “quality of life” to all of Centralville. CNAG’s partnership with its neighbors, businesses, the City’s governing bodies, the Lowell Police Department, Neighborhood Services, and other City departments, fosters a culture of economic and community development, which continuously improves the “quality of life” for all.
Wait, what's this?
This is an area that will be used to showcase the good as well as the bad areas in the Centralville section of the city of Lowell. NOW SHOWING. The burned out Fruen's Market and the empty Ames store on the Market Basket Bridge Street property and the defunct gas station at w.6th and Bridge. Also included is the CVS site at the intersection of Bridge St. and The VFW Highway.
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