JCC Greater Boston Adds To, Renovates Newton Location With MassDevelopment Bond
June 12, 2018
FOR IMMEDIATE RELEASE
Kelsey Abbruzzese, MassDevelopment, 617-330-2086 & 617-448-9077 (cell)
Lauren Roth, JCC Greater Boston, 617-558-6577
MassDevelopment has issued a $10.6 million tax-exempt bond for JCC Greater Boston, a nonprofit organization where families can access a wide range of learning, fitness, camping, and enrichment resources while connecting with a vibrant local Jewish community. JCC Greater Boston will use bond proceeds to renovate a three-story physical education wing at its Leventhal-Sidman Center in Newton. These changes will include renovations to the locker rooms and Men’s Health Center, as well as additional upgrades for HVAC systems, accessibility, and program facilities. JCC Greater Boston will also use bond proceeds to build a two-story addition to the wing, which will house a new fitness center, family resource programs, and other activities. Century Bank & Trust Company purchased this bond, which will also refinance an existing commercial loan and finance routine capital improvement projects.
"JCC Greater Boston benefits thousands of residents in the region through its range of enriching programs and services," said MassDevelopment President and CEO Lauren Liss. "MassDevelopment is proud to provide JCC Greater Boston with the financial support it needs to improve the Leventhal-Sidman Center and continue its important work fostering a vibrant and diverse community in our Commonwealth."
JCC Greater Boston serves nearly 50,000 people from 98 different communities at various locations in greater Boston. The Leventhal-Sidman Center alone serves nearly 8,000 members annually. Across the region, JCC Greater Boston offers a variety of programs, activities, and events for individuals of all ages. Popular programs include PJ Library, which provides young children access to Jewish-themed books and music; summer overnight and day camps; and adult art, fitness, and new parenting classes. With the support of generous donors, JCC Greater Boston awards more than $750,000 in scholarships each year to make the organization accessible to those who could not otherwise afford to participate.
"This is a tremendously exciting time for JCC Greater Boston and the community we serve. We are very grateful to MassDevelopment and Century Bank as we move forward this exciting project. It is crucial for JCC Greater Boston to invest not only in our people and programs, but also in our physical space to successfully meet the evolving needs of those we serve," said JCC President and CEO Mark Sokoll.
MassDevelopment, the state’s finance and development agency, works with businesses, nonprofits, financial institutions, and communities to stimulate economic growth across the Commonwealth. During FY2017, MassDevelopment financed or managed 377 projects generating investment of more than $4.3 billion in the Massachusetts economy. These projects are projected to create about 9,488 jobs and build or rehabilitate 1,863 residential units.