The land, which is between the railway line and Denmark Road, was once allotments but became overgrown and also attracted fly-tipping.
After clearing the area of fly-tipped rubbish and overgrown vegetation, the team planted willow trees and added sleeves to protect them while they are young.
Railway colleagues were joined at the planting by Councillor Ryan Harvey from Suffolk County Council.
Network Rail now intends to work with the council, community groups, community rail partners and schools to see how the green space can be further transformed, with an urban nature reserve and vegetable planting as possibilities.
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As well as improving the appearance of the land for lineside neighbours and potentially providing a space for the community, the planting of the willow trees will contribute to biodiversity.
The railway is one of Britain's biggest landowners and also provides a natural refuge for a vast range of plants and animals. Network Rail is committed to protecting these species by maintaining their habitats and creating new ones.
Plants, hedgerows, shrubs and wildflowers are being planted along the railway to increase biodiversity and offset losses from essential vegetation management. By April, Network Rail’s Anglia route alone will have planted the equivalent of 2000 trees in one year, including the willows at Lowestoft.
Liam Allen, Network Rail Anglia route engineer for drainage and lineside, said: "We wanted to convert this unsightly piece of land into a space that can contribute to both the community and the environment. The railway has an important responsibility as a major landowner and neighbour, and we are determined to make a difference wherever we can."
