Fully Approved 60-Unit Residential Site with $2.5M HDIP Tax Credit. Maximize your portfolio returns with the ICONO Tower Development, a premier, fully permitted multifamily opportunity in downtown Lawrence, MA. Located at 71-75 Common Street and 37 Newbury Street, this shovel-ready project is approved for 60 market-rate apartments sitting over a 55-car structured garage. Investors gain an immediate financial edge with an awarded $2.5 million Housing Development Incentive Program (HDIP) tax credit spanning 2025-2027. Capitalize on the Merrimack Valley's rapid growth with a project backed by strong local demand and local government incentives.
| MLS # | 73528771 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Days On Site | 165 |
| Listing Provided By | Home Shop Properties, Inc. | Johan Lopez |
| Zoning | B3 |
|---|---|
| Acreage | 0.56 |
| Property View | Yes |
| Lot Features | Level, Corner Lot |
|---|
| Sewer | Public Sewer |
|---|---|
| Gas | On-Site |
| Electric | On-Site |
| Tax Annual Amount | 25244 |
|---|---|
| Tax Assessed Value | 1371000 |
| Tax Year | 2026 |
| Community Features | Public Transportation, Shopping, Park, Medical Facility, Laundromat, Highway Access, Private School, Public School, T-Station, Other |
|---|---|
| Senior Community Yes / No | No |
| State | MA |
|---|---|
| County | Essex |
| City | Lawrence |
| Zip Code | 01840 |
| Area | Essex |
| Listing VS Median (in 01840) | |
Price: $2,900,000 low | high Med: $3,675 On site: 165 low | high Med: 104 | |
| State | MA |
|---|---|
| County | Essex |
| City | Lawrence |
| Zip Code | 01840 |
| Area | Essex |
| Listing VS Median (in 01840) | |
Price: $2,900,000 low | high Med: $3,675 On site: 165 low | high Med: 104 | |
![]() | $2,190,000265 Essex StreetLawrence, MA 01840 |