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MassDevelopment Bonds Help Charles River School Expand

October 5, 2017


Meggie Quackenbush, MassDevelopment, 617-330-2011 & 857-208-2777 (cell)

Megan Page, Charles River School, 508-785-0068

Charles River School, DoverMassDevelopment has issued $10,350,000 in tax-exempt bonds for the Charles River School (CRS), a Dover independent school serving children in pre-kindergarten through eighth grade. The school will use bond proceeds to build a 13,000-square-foot middle school building that will house seven classrooms, six breakout rooms, science learning spaces, and a common room. CRS will also use proceeds to furnish and equip this new building, to renovate its Founders House, and to refinance previously issued debt. Needham Bank purchased the bond.

“From top-tier universities to independent schools, MassDevelopment is dedicated to supporting Massachusetts’ educational institutions with financing to expand their campuses, improve their buildings, and grow their programs,” said MassDevelopment President and CEO Lauren Liss. “We are pleased to provide Charles River School with funding to update its campus with new spaces for its thriving community of learners.”

Founded in 1911, CRS is a progressive independent school for children in pre-kindergarten to eighth grade located in MetroWest Boston. Today, the school has a 16-acre campus with an enrollment of about 160 students. CRS students learn through discovery and explore concepts through the school’s thematic curriculum. CRS educates children in academics, arts, and athletics, instilling in them confidence and strong academic and problem-solving skills. Classes are small, learning is personalized, and teachers are dynamic and accessible. CRS is a member of the National Association of Independent Schools and accredited by the Association of Independent Schools of New England.

“CRS is a community that is passionate about learning, and that passion has been evident in the community’s resounding enthusiasm for this project,” said Charles River School Head of School Gretchen Larkin. “The new space will increase opportunities for collaboration, hands-on learning, and enrich students’ academic experience. We are thrilled this building is becoming a reality.”

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.