Watertown, MA – MassDevelopment has issued a $20,375,000 tax-exempt bond on behalf of Buckingham Browne & Nichols School (BB&N), a coeducational day school in Cambridge, which used bond proceeds to buy a 6.1-acre property in Watertown previously owned by Mount Auburn Cemetery.
BB&N plans to use the site for athletic purposes, and will build two athletic fields, a field house, and about 80 parking spaces on the land that will be accessible to both the school and the town of Watertown. First Republic Bank purchased the bond.
“The new athletic fields that Buckingham Browne & Nichols School plans to build will enhance its educational offerings for students and create open space for nearby residents,” said secretary of housing and economic development Mike Kennealy, who serves as chair of MassDevelopment’s board of directors.
Established in 1974, BB&N serves 1,013 students from 77 cities and towns in prekindergarten through grade 12. BB&N currently operates three campuses: the Lower School, located near Harvard Square in Cambridge that serves students in prekindergarten through grade six; the Middle School, also located near Harvard Square that serves students in grades seven and eight; and the Upper School, located near the Charles River in Cambridge that serves students in grades nine through 12.