Enterprise Bank Deepens Commitment to Lowell with Purchase of Palmer Street Property

Founder and Chairman George L. Duncan said, “Enterprise Bank was founded with the vision to strengthen the economic fabric in our communities. Our purchase of the building at 18 Palmer Street makes sense from both a business perspective and as part of our continuing mission to support a vibrant downtown.”

Since moving into the space in 2014, Enterprise Bank has invested in significant improvements to the building, including renovations to the street level façade and restoration of the original main stairwell. The 25,000-square-foot space is a key part of Enterprise Bank’s downtown Lowell campus.

Lowell Mayor William Samaras supports our expansion in our downtown Lowell campus. Samaras said, “Investing in a strong downtown is crucial for a successful city and region. Enterprise Bank’s continued investment in downtown Lowell plays an important role in our tax base, economic growth, and long-term health and success of our city.”

Lowell City Manager Eileen Donoghue commented, “We are thrilled when a successful, community-focused business like Enterprise Bank chooses to invest in the downtown, augmenting the job base as they preserve and restore valued structures in our historic district. From an economic, infrastructure, and aesthetic perspective, this is a win for Lowell.” 

Ongoing work on the Bank’s downtown Lowell Campus buildings has included washing and repointing of the brick exteriors, restoration of historic architectural elements and the installation of new windows. Interior renovations are also underway in the 19 Palmer Street building to create additional office space. Enterprise Bank CEO Jack Clancy said, “We have continually invested in and enhanced our infrastructure, technology, and human resources to create a vibrant, flourishing downtown operation where our community, customers, and team members can come together.”