YMCA Receives MassDev Bond

| July 23, 2015 | 0 Comments
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YMC of Central Massachusetts – central community branch

Boston – MassDevelopment has issued a $22.7 million tax-exempt bond on behalf of the YMCA of Central Massachusetts, to expand and upgrade its five branch locations: Boroughs Family Branch,Westborough; Camp Lowe, Lancaster; Central Community branch, Worcester; Greendale Family branch, North Worcester; and  Montachusett Community branch, Fitchburg.

Also, a $10 million tax-exempt bond had been issued on behalf of the YMCA of Greater Boston, which will use bond proceeds to complete large-scale revitalizations of its Huntington Avenue and West Roxbury branches.

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The plans for each branch include:

Boroughs Family Branch –  Add a 14,000-square-foot aquatic center and  renovate and improve various wellness areas, teen centers, locker rooms, lobby areas, and computer lab space.

Camp Lowe –  Build a 3,000sf amphitheater and   upgrade the septic system

Central Community Branch  –   Renovate and improve various wellness areas, teen centers, locker rooms, lobby areas, and computer lab space.

Greendale Family Branch –  Build a 2,000sf splash pad play area and  renovate and improve various wellness areas, teen centers, locker rooms, lobby areas, and computer lab space

Montachusett Community Branch –  renovate and improve various wellness areas, teen centers, locker rooms, lobby areas, and computer lab space

Bond proceeds also refunded a prior MassDevelopment bond. The project is expected to create 26 jobs and support 47 construction jobs. TD Bank purchased the bond.

“Through their array of health, wellness, and development programs, YMCA branches across the Commonwealth touch and improve the lives of countless residents and families,” said MassDevelopment President and CEO Marty Jones. “MassDevelopment is pleased to help the YMCA of Central Massachusetts and other clubs across Massachusetts expand and improve its facilities to better serve its clients.”

 

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Category: All, Facilities News, Financial