Education Restoration/Renovation

Babson Renovates with Help from MassDev

Rendering of Babson College Residence Halls

Rendering of Babson College Residence Halls / courtesy of Babson College

Boston – MassDevelopment has issued two tax-exempt bonds totaling $60.3 million on behalf of Babson College in Wellesley. Babson will use $37 million to renovate student residence halls. Babson will also use $23.3 million to refund a prior MassDevelopment bond.

“MassDevelopment is pleased to support Babson college as it renovates its campus, continuing to provide an outstanding learning environment for future leaders of the commonwealth,” said MassDevelopment president and CEO, Marty Jones.

​​​​ ​​​​​​​​​​​​Starting in January 2015, the 1920s dormitories underwent an extensive renovation ahead of their 100th anniversary, with extensive changes to the dorm room layout to create common floor bathrooms and an updated mechanical and envelope system for energy efficiency. The Park Manor South renovation was finished in summer 2015​ with Central under construction May 2015 through 2016.


“The support from MassDevelopment allows Babson College to provide a stellar residential environment for students, complementing our acclaimed curricular and co-curricular activities,” said President Kerry Healey.

“Our partnership with MassDevelopment gives Babson the ability to support our students as they become leaders equipped to make a difference on campus and around the world through the power of Entrepreneurial Thought and Action®,” said Chief Administrative Officer Katherine Craven.

Babson College is the educator, convener, and thought leader for Entrepreneurship of All Kinds​​​​​​​​​​​​​​​​​​​​​​​​​​ ®. The top-ranked college for entrepreneurship education, Babson is a dynamic living and learning laboratory where students, faculty, and staff work together to address the real-world problems of business and society. We prepare the entrepreneurial leaders our world needs most: those with strong functional knowledge and the skills and vision to navigate change, accommodate ambiguity, surmount complexity, and motivate teams in a common purpose to make a difference in the world, and have an impact on organizations of all sizes and types. As we have for nearly a half-century, Babson continues to advance Entrepreneurial Thought and Action​​​​​​​​​​​​​​​​​​​​​​® as the most positive force on the planet for generating sustainable economic and social value.​​​​ ​​​​​​​​​​​​​​​​​​​​​​​​​​ ​​