Municipal Restoration/Renovation

YMCA to Expand with MassDev Bond

Boston – MassDevelopment has issued a $14.8 million tax-exempt bond for the YMCA of the North Shore. The bond proceeds will be used to renovate and build an addition onto the Greater Beverly YMCA to increase available program space.

The organization will also use proceeds to build and equip a 14,000sf educational center at the Beverly location to accommodate children’s classrooms, program space, and administrative offices, and to refinance existing debt. People’s United Bank purchased the bond.

The YMCA of the North Shore was established in 1858 as the Salem YMCA and is currently comprised of seven full-service facilities. The organization provides services to over 45,000 members across 24 communities.

The YMCA’s programs address youth development, healthy living, and social responsibility. The organization aims to bring community members together by connecting people of all ages and backgrounds.