MassDevelopment

Emmanuel College to Build Green Residence Hall with MassDevelopment Bond

July 12, 2016


FOR IMMEDIATE RELEASE

Contacts:
Meggie Quackenbush, MassDevelopment, 617-330-2011 & 857-208-2777 (cell)
mquackenbush@massdevelopment.com

Sr. Anne M. Donovan, SND, Emmanuel College, 617-719-5983
donovan@emmanuel.edu

MassDevelopment has issued two bonds totaling $188,235,000 on behalf of The Trustees of Emmanuel College, a co-educational Catholic college in Boston. The College is using bond proceeds to demolish a building and to build and furnish a 267,500-square-foot residence hall in its place. The new hall is expected to meet LEED Silver specifications, and will feature energy-efficient windows, LED lighting and water- and energy-saving plumbing, heating and cooling equipment. The project will add 692 apartment-style beds to the campus, and the college plans to lease a portion of the new housing to the nearby Massachusetts College of Pharmacy and Health Sciences University. Emmanuel also plans to use bond proceeds to refund past debt.

“These bonds will help Emmanuel College add much-needed housing space while minimizing its environmental footprint,” said MassDevelopment President and CEO Marty Jones. “MassDevelopment is pleased to support the College as it renovates and enhances its campus and makes sustainability a priority in its Boston neighborhood.”

The only Catholic college in the heart of Boston, Emmanuel educates and inspires more than 2,200 undergraduate and graduate students from around the world. The College provides boundless opportunities for students to expand their worldview through rigorous coursework, collaborations with distinguished and dedicated faculty, participation in a vibrant campus community, and countless internship and career opportunities throughout the Boston area and beyond. Emmanuel's more than 50 programs in the sciences and liberal arts foster spirited discourse and substantive learning experiences that honor the College's commitment to educate the whole person and provide an ethical and relevant 21st-century education.

MassDevelopment, the state’s finance and development agency, works with businesses, nonprofits, financial institutions, and communities to stimulate economic growth across the Commonwealth. During FY2015, MassDevelopment financed or managed 294 projects generating investment of more than $2.5 billion in the Massachusetts economy. These projects are projected to create about 6,100 jobs and build or rehabilitate about 2,000 residential units.