MassDevelopment.com: Press Room: $35 Million MassDevelopment Bond Supports Curry College Expansion Projects

$35 Million MassDevelopment Bond Supports Curry College Expansion Projects
August 16, 2006

Contacts:
Alicia Tildsley, MassDevelopment, 617-603-3120
Frances Gately, Curry College, 617-333-2970

MassDevelopment today announced a $35,000,000 tax-exempt bond issue for Curry College in Milton. Bond proceeds will finance the construction of a new academic building and student center on the school's 137-acre Blue Hill Avenue campus.

"We are pleased to assist Curry College with its upcoming expansion effort," said Robert L. Culver, MassDevelopment president/CEO. "MassDevelopment recognizes the role colleges and universities play in driving the Commonwealth's economy by providing jobs, educating our future workers and supporting regional economies. Curry is a long-time customer, and its leaders understand the value of tax-exempt financing in stretching budget dollars."

Founded in 1879, Curry College is a private, four-year, co-educational institution offering 20 undergraduate majors in the liberal arts and professional fields, as well as three graduate programs in Education, Criminal Justice and Business Administration. From 1996 to 2006, Curry's traditional undergraduate enrollment more than doubled from 900 to 1,900 traditional undergraduate students from over 40 states and 23 countries. Approximately 2,400 of its students reside on the Curry campus. Curry also serves 1,500 continuing education students and 350 graduate students. The college recently completed a number of additional improvements to its campus including construction of a 170-bed apartment style residence hall that opened in Fall 2003 and a 175-bed traditional single and double room residence hall that opened in Fall 2005.

"Thanks to MassDevelopment for helping us finance these two important expansion projects," said Kenneth K. Quigley, Jr., Curry College president. "Our recent effort to increase enrollment brought us close to full operational capacity. These new facilities will not only allow Curry to accommodate more students, they will also enhance our existing students' educational experiences."

MassDevelopment, the state's finance and development authority, works with businesses, financial institutions and local officials to stimulate economic growth across the Commonwealth. In fiscal year 2005, MassDevelopment financed or managed 158 projects statewide representing an investment of nearly $1.9 billion in the Massachusetts economy. These projects are supporting the creation of 2,769 housing units and more than 9,800 jobs: 4,702 permanent and 5,100 construction-related.