Gorman Management Trust

Description

Gorman Management Trust (GMT) started its legacy in 1981 and since its inception has purchased and renovated over 270,000 square feet of space on 75 buildings which occupy 224 residential and commercial units today. Initially GMT acquired two decayed two-family homes and undertook a major renovation project of a much larger 15-unit apartment building, which was condemned by a fire. After the completion of these projects, it became apparent that the focus of GMT would be on refurbishing older, turn of the century, single and multi-family dwellings as well as revitalizing small, depressed retail plazas. Also in the 1980's GMT rejuvenated many neglected neighborhoods with the help of Urban Development Action Grants (U.D.A.G.) and funding from the Federal Redevelopment Program in Lowell, Massachusetts. For example, Bridge Street; a major roadway in Lowell had three condemned buildings; (38 units) which GMT restored to useful, tax producing, income generating properties. It also revived a neighborhood association that continues to watch over neighborhood issues and rebuild blighted properties today. Currently with over 270,000 square feet of renovations under our belt and 224 total rental units reconditioned, we continue our mission of breathing life back into older historical properties from the turn of the century.

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