Norton, MA – MassDevelopment has issued a $13,420,000 tax-exempt bond and a $21,320,000 taxable bond on behalf of Wheaton College which will use proceeds to fund a variety of upgrades to its 400-acre campus in Norton.
The college will renovate an existing building to create a new academic center that will house advising and career services; applied health, business, and psychology academic programs; and innovative makerspaces.
Plans are to improve parking and accessibility pathways, upgrade mechanical systems and IT infrastructure, and complete other various renovations and capital projects. Proceeds from the bonds, which were sold through a public offering underwritten by Barclays Capital Inc., also will be used to refinance previously issued debt.
Founded in 1834, Wheaton College was established as a female seminary and was chartered as a four-year liberal arts women’s college in 1912 before becoming coeducational in 1988.
“The town of Norton appreciates the support of MassDevelopment in this project,” said Norton town manager, Michael Yunits. “These improvements at Wheaton College will ensure that the college continues its important role in economic development for the entire region.”