Market Report - April 9th · Candor Investor Accelerator

Market Report - April 9th

Hey all - sharing my weekly market report. Here's a blurb and attachment!

Major Market News

Major Development: A developer plans to build 362 market-rate apartments in central Lowell. The housing will be spread across two six-story buildings located by the Pawtucket and Hamilton canals, signaling strong institutional confidence in the market [20].

Occupancy & Trends: Lewiston has a higher vacancy rate of 6.49%, with a slightly loosening trend [24]. Year-Over-Year Rent Growth: Despite the vacancy rate, Lewiston has seen significant YoY rent growth reported at 12.92% [23].

Major Market News

Housing Developments: City officials are considering a tax increment financing deal for a 152-unit housing development on Middle Street. Another developer is seeking a city tax break for a $36 million housing project containing 152 units [25][26].
Zoning & Regulations: The Lewiston council recently approved multiple zoning changes, rejecting a 20-foot minimum height provision [27]. Additionally, the city has banned rent increases on mobile home lots for 6 months [28].

Revitalization: The city's ongoing "renaissance" is heavily linked to efforts to fill and repurpose prominent vacant buildings downtown [29].

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