The credit union has plans to relocate its corporate headquarters to Tremont Yards and will occupy all of the upper stories.
The property contains the ruins of the former Tremont Mills Power House, which once housed the water wheels responsible for powering the Tremont and Suffolk Mill complexes dating back to the 1840s, as well as the remains of a mill building constructed in 1862.
Development plans are underway with Soucy Industries Inc. of Pelham, N.H., to preserve and renovate the historical site, soon to become JDCU's corporate headquarters. The design, by Gavin & Sullivan Architects Inc., blends the original brick of the old power house's crumbling walls on the first floor with a five story tower of green glass.
"JDCU has a deep-rooted history in the Lowell community since 1912," said JDCU President/CEO Mark S. Cochran. "We have experienced steady growth and recognized the need for a new corporate headquarters. It was important to us to stay in the Acre Community of Lowell and the Tremont Yards site was a perfect fit for us. In addition to meeting our current and future space needs, this new space is planned to match our company's culture of collaboration and teamwork, critical components to the credit union's success."
JDCU expects to occupy 49,000 square feet of the new building targeted for completion in mid-2009. Its new headquarters will house all internal operations and serve several purposes.