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14 Lynde Street
Salem MA 01970

Davis and Sargent Building

Davis and Sargent Building

Lowell, MA

This former mill building on Middlesex Street in Lowell is the new Massachusetts headquarters of Nobis Engineering, Inc., an engineering firm with civil, environmental, wetland, geotechnical, and landscape design services. Overlook Associates proposed rehabilitation of the former Davis and Sargent Building as an alternative to leasing additional office space in an office park and went on to negotiate the acquisition of the building on behalf of Nobis. Overlook assisted in selection of the development team, including the architect, tax accountant and general contractor. Using New Markets tax credit equity, federal and Massachusetts historic rehabilitation tax credits and permanent mortgage financing through Mass Development, Overlook developed a sophisticated financing package that made the building’s occupancy cost competitive with office leasing alternatives. Nobis was able to incorporate sustainable building principles into the project, including LEED certification at the Gold level. Now this historically distinct building itself has become a tool for marketing the company’s engineering and environmental services.

Overlook Associates prepared and filed all of the applications for tax credit equity and procured tax incentives available under the HUD Renewal Community program and state Economic Target Area initiatives. Overlook’s unique ability to provide financial and preservation expertise allowed this company to redevelop an abandoned property and make a contribution to improving a low income neighborhood. Nobis will create fifty new jobs in Lowell and support Lowell’s ongoing efforts to revitalize its downtown area.

Davis and Sargent BuildingDavis and Sargent Building

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