October
20
2008
LOWELL --- The plan to turn a former ironworks into 32 affordable units has stalled due to the slumping housing market, a city official said recently. In 2006, the city seized the land and paid the owner of Soucy Ironworks $1.5 million to move his business out of the city. Since then, little progress has been made. "We will keep on doing pre-development work and put out feelers to developers, but given the real-estate market things are slow," said Anne Barton, deputy director of the city's Division of Planning and Development. "It is all still on the table. Having housing on that site would create a good little neighborhood."