New Bedford, MA – MassDevelopment has issued an $8 million tax-exempt bond on behalf of Child & Family Services, Inc., a nonprofit providing social services to children and families, which will use proceeds to renovate and equip the former Regal House Furniture building located at 965 Church St. in New Bedford.
The organization will close its two existing locations at 1061 Pleasant St. and 543 North St. in New Bedford and merge and expand critical services including mental health, community support, and emergency services programs at this new building in fall 2022. The new facility will feature a mental health counseling center and 24-hour inpatient clinic. Salem Five Bank purchased the bond.
“Child & Family Services is one of the oldest nonprofits of its kind in the country, founded at the height of the whaling era to care for widows and orphans,” said New Bedford mayor, Jon Mitchell. “It has remained a vital institution in New Bedford because it has consistently anticipated and adapted to the changing needs of the City’s residents. This new facility is the latest example of Child and Family Services’ far-sighted approach to its mission, which no doubt will enable it to provide critical services for many years to come. I am grateful that MassDevelopment recognized this opportunity, and committed the financial support necessary to make it happen.”