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MassDevelopment Financing Renovations as Charter School Returns to Springfield

March 1, 2021 : Banker & Tradesman

A $13.35 million tax-exempt bond from MassDevelopment will pay for renovations of Springfield Preparatory Charter School’s new location, enabling the school to add 108 students and expand to grades seven and eight.

Boston Private Bank purchased the bond for the project, which will upgrade building systems, add classrooms, breakout rooms, offices and a gymnasium at the 43,755-square-foot building at 2071 Roosevelt Ave. in Springfield.

The school which operates with a two-teacher-per-classroom model was originally chartered in 2015 and operated in Springfield before relocating to Longmeadow as it expanded from two grades to a K-6 format. The charter was renewed in 2020 with authorization for a student body of 486 students.