A thunderous roar erupted from the crowd of 5,496 as the voice over the public-address system boomed, "Ladies and gentlemen, it's our team. It's our time, and now, it's our arena," after City Manager Bernie Lynch, state Sen. Steven Panagiotakos, Chancellor Marty Meehan and UMass President Jack Wilson sat at a table at center ice and signed the hard-fought purchase-and-sale agreement under which the university takes ownership of the arena from the city.

The newly refurbished UMass Lowell Boathouse on Pawtucket Boulevard, also known as the Bellegarde Boathouse, now has new offices, conference rooms, storage rooms, locker rooms, restrooms and a cavernous bay area are being shared by the university, the high school, the Merrimack River Rowing Association and the Lowell National Historical Park.