The UMass Building Authority has executed an agreement to acquire the Perkins Properties, comprising 1 Perkins St., 21 Perkins St., 39 Perkins St., 40 Perkins St. and 65 Perkins St. in Lowell.
The university’s intent is to convert the residential properties to student housing by Fall 2017 to support realized and projected enrollment growth.
Tenants of the Residences at Perkins Park and the Lofts at Perkins Park were notified of the pending acquisition (pdf) on June 3. The university intends to honor all current leases with tenants, extend expiring rental agreements on a month-to-month basis through Spring 2017, provide relocation assistance, and reach out to other city rental properties to encourage rental incentives for relocating tenants.
Office Hours for Tenants
The university will hold “office hours” in the management office adjacent to the lobby of the Perkins Lofts where tenants can attend individual meetings with university officials and representatives from the management company to address specific questions related to their personal relocation circumstances. Office hours have been scheduled for the following dates and times:
Additional times may be scheduled depending on demand.
Relocation Consultant Hired
The university has hired Judy Cohn Relocation and Housing Consultants to serve as Relocation Advisory Agent to supplement its own staff in supporting and assisting Perkins residents with their relocation assistance needs. Judy Cohn brings over 30 years of experience assisting residents displaced by federal and state government actions and has extensive experience working with the Massachusetts Bureau of Relocation. She will be reviewing all aspects of the current relocation assistance program and recommending revisions as may be appropriate to ensure continued compliance with all applicable state and federal laws and regulations as well as the fair and equitable treatment of the residents impacted by the acquisition of the Perkins Properties.
Additional information, including a revised relocation plan will be available for review soon. In the event that any changes to the relocation assistance being offered are warranted, all eligible households will have equal opportunity to apply for the benefits, including those tenants who have already filed claims and/or received payments.
Judy Cohn or Harry Yuan from her team will be joining available at upcoming office hours sessions (listed above) in the on-site management office at 39 Perkins St. Additional sessions will continue through the spring. Any residents with questions regarding the relocation program or who feel that they may require unique or special accommodations are encouraged to attend. In the event that a resident who is interested in meeting attend any of the designated office hours, please contact the UMass Lowell Service Center at 978-934-2601 or email@example.com.
Interested residents are encouraged to review the website to review third-party real estate development, brokerage and moving companies offers to see if any of the offers may be beneficial to their circumstances.
Down Payment Assistance for Tenants
The university has been working with the Lowell Development and Financial Corporation (LDFC) and they have agreed to offer their down payment assistance program to Perkins tenants who are interested in purchasing homes in Lowell. The program provides a no-interest loan for 2.5 percent of the purchase price based on a 5 percent down payment. It provides a loan for 1.5percent of the purchase price based on a 3 percent down payment. The maximum amount of assistance is $5,000. For Perkins tenants, they have agreed to waive the income restrictions, and participants need not be first-time homebuyers. For more information, please visit the Merrimack Valley Housing Partnership (MVHP) or call 978-459-8490. The MVHP administers the program on behalf of the LDFC.
Additional Information for Tenants