Old Colony YMCA Adding New YMCA in Plymouth, Renovating and Expanding Other Southeastern Mass. Facilities with $12.5 Million MassDevelopment Bond
February 17, 2015
FOR IMMEDIATE RELEASE
The Old Colony YMCA, one of the largest human services providers in Southeastern Massachusetts, is adding a new Plymouth YMCA, expanding in East Bridgewater and Stoughton, and updating its facility in Easton with help from a $12,500,000 tax-exempt bond from MassDevelopment. The projects are expected to result in 32 new jobs and support 63 projected construction jobs.
The bond proceeds will enable Old Colony YMCA to:
- Enter a partnership with A.D. Makepeace, which will build an approximately 24,800-square-foot new facility for acquisition and lease the land parcel the building sits on to Old Colony YMCA at 237 Wareham Road in Plymouth. The future YMCA in Pylmouth has been on the drawing board for 35 years, and the bond proceeds will make it possible to develop the facility in two phases. It is expected to open to the public in 2015.
- Add approximately 23,280 square feet to the Stoughton YMCA to increase capacity for programs, including 150 parking spaces.
- Add approximately 10,000 square feet to the East Bridgewater YMCA to increase capacity for programs, including 111 parking spaces.
- Renovate parts of the Easton YMCA facility.
“Old Colony YMCA provides so many recreational opportunities and vital human services to the people of Southeastern Massachusetts. MassDevelopment is pleased to continue our partnership with Old Colony Y as they expand their facilities in the region,” said MassDevelopment President and CEO Marty Jones.
“This is the most significant investment we’ve made to date in our community, and will enable us to greatly expand the depth and breadth of our services in Southeastern Massachusetts,” said Vincent Marturano, President and CEO of Old Colony YMCA. “We deeply appreciate the partnerships with MassDevelopment and financial institutions Rockland Trust and Eastern Bank. We are also pleased to partner with A.D. Makepeace to make our Plymouth YMCA a reality.”
Established in 1887, the Old Colony YMCA serves more than 125,000 people in 31 communities in Southeastern Massachusetts with programs for all ages and abilities, designed to support physical and mental wellbeing. Programs include fitness and nutrition, before- and after-school enrichment, child care, summer camps, residential and community-based treatment for youth and families, senior wellness, active older adult programming, and more.
MassDevelopment, the state’s finance and development agency, works with businesses, nonprofits, financial institutions, and communities to stimulate economic growth across the Commonwealth. During FY2014, MassDevelopment financed or managed 314 projects generating investment of more than $2.9 billion in the Massachusetts economy. These projects are projected to create more than 6,300 jobs and build or rehabilitate more than 1,600 residential units.