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$38 Million MassDevelopment Bond Supports Campus Improvement Projects at Philips Academy Andover

December 18, 2008

MassDevelopment today announced a $38,610,000 tax-exempt bond issued on behalf of Philips Andover Academy. The private secondary school will use bond proceeds to renovate its central dining hall, classrooms, dormitories, administrative buildings, athletic fields and faculty housing. The school will also undertake several infrastructure improvement projects to improve systems reliability and energy efficiency.

Established in 1778, Philips Andover Academy is a residential secondary school dedicated to academic excellence and a liberal arts tradition. The school is made up of a diverse student body, with students originating from more than 48 states and 24 different countries.