Dedham Country Day Builds Classrooms With $7.8 Million MassDevelopment Bond
February 6, 2012
MassDevelopment has issued a $7.8 million bond on behalf of Dedham Country Day School, which serves about 250 students in kindergarten through eighth grade. The School will use bond proceeds to renovate and expand the lower school by building a classroom wing that will house kindergarten and lower school classrooms. Dedham Country Day School expects to open the new wing this fall. Bond proceeds will also refinance a previous bond. Brookline Bank purchased the bond.
“Dedham Country Day School promotes community and connections among children, parents, and faculty, and this new wing will offer those opportunities to even more young students,” said MassDevelopment President and CEO Marty Jones. “This low-cost financing helps many independent schools with their capital projects, and we're pleased to back Dedham Country Day's expansion.”
Established in 1903 as a small, co-educational school with a focus on community, Dedham Country Day School moved to its current location in 1948. The School seeks to create lifelong learners by providing a mix of challenging academics, arts, and athletics.
DCD Head of School Nick Thacher said, “This loan will enable the current generation of DCD families and friends to achieve the goals of Thrive: The Campaign for DCD, transforming the school’s current facilities to improve an already outstanding program.”
MassDevelopment, the state’s finance and development agency, works with businesses, nonprofits, financial institutions, and communities to stimulate economic growth across the Commonwealth. During FY2011, MassDevelopment financed or managed more than 300 projects generating investment of $3.8 billion in the Massachusetts economy. These projects are projected to create more than 10,000 jobs (2,547 permanent and 8,129 construction), and build or rehabilitate more than 1,000 residential units.