WPI Receives Financing for Academic Building

Worcester, MA – MassDevelopment has issued a $113,640,000 tax-exempt bond on behalf of Worcester Polytechnic Institute (WPI), which will use bond proceeds to build and equip a new five-story, 100,000sf academic building on its main campus at 100 Institute Road in Worcester.

The new academic building, which broke ground in November and is slated to open in January 2022, will house classrooms, research and collaboration spaces, and administrative offices. The bond was sold through a public offering underwritten by Barclays Capital Inc.

WPI will also use bond proceeds to renovate and upgrade existing buildings on its campus, including making accessibility, ADA-compliance, energy-efficiency, and other infrastructure improvements.

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