Noble and Greenough School Expands Historic “Castle” Thanks to MassDevelopment Bond
June 27, 2011
MassDevelopment has issued a $9.11 million tax-exempt bond on behalf of Noble and Greenough School in Dedham. The school will use bond proceeds to renovate and expand the “Castle,” a late 19th-century building that now serves as the School’s dining hall, with meeting space and faculty housing on the upper floors. Nobles plans to renovate and reconfigure the existing 34,000-square-foot space and link to a new one-story, 13,000-square-foot addition. The project will also double the number of dining seats to 400 and allow the school to serve lunch in two periods instead of four.
“The academic rigor and leadership cultivation at Nobles have translated to college success for its many students,” said MassDevelopment President and CEO Marty Jones. “We’re pleased to support Nobles and the tradition of quality college preparatory schools around the Commonwealth through this low-cost financing.”
Bond proceeds will also go toward renovating the upstairs library and study into meeting spaces, adding an elevator, and expanding and updating faculty housing. Originally founded as a boys’ day school in 1866, Nobles moved from Boston to Dedham in 1922. Today, the School is a co-educational, day-, and five-day boarding school for almost 600 students in grades seven through twelve.
“This project will be transformational for our school.” says Noble and Greenough Business Manager Steve Ginsberg. “The Castle is the campus icon and this project will allow us to preserve the existing building and add to it in a meaningful way to support students and faculty now and for generations to come.”
MassDevelopment, the state’s finance and development agency, works with businesses, nonprofits, financial institutions, and communities to stimulate economic growth across the Commonwealth. During FY2010, MassDevelopment financed or managed 238 projects in 104 communities across the state generating investment of nearly $1.4 billion in the Massachusetts economy.