Boston – MassDevelopment has issued a $12 million tax-exempt bond on behalf of Friends of Excel Academy Charter Schools, Inc., a nonprofit affiliate of Excel Academy Charter Schools. The organization will use bond proceeds to build and equip a three-story, approximately 19,500sf middle school building next to the existing Excel Academy Charter High School in East Boston.
Excel Academy Orient Heights will relocate from its current rented space to the new building, rebranding as Excel Academy Greenway. Boston Private Bank purchased the bond, which MassDevelopment enhanced with a charter school loan guarantee.
The new Excel Academy Greenway will serve students in grades 5-8, and is scheduled to be completed by the end of 2020. The building’s first floor will include reception, administrative offices, a small child-care center, and a meeting space for Community Circle, the school’s social and emotional learning program. The second and third floors will include classrooms, support space, administrative offices, and a teacher work room. The new facility will also feature 32 parking spaces and a vehicle queuing area to accommodate student pick-up and drop-off.
Founded in 2003, Excel Academy Charter Schools is a network of four charter public schools – three middle schools and one high school – serving approximately 1,400 students from East Boston and Chelsea.