Riverbend School Adds New Elementary School Building, Gymnasium Thanks to MassDevelopment Bond

December 31, 2019


Jessica Beliveau, MassDevelopment, 617-330-2086 & 857-283-2846 (cell)

Donna Strouse, Riverbend School, 508-655-7333

Riverbend School's new elementary school building
Riverbend School's new elementary school building

MassDevelopment has issued a $4.1 million tax-exempt bond on behalf of Riverbend School, an independent Montessori school in Natick. Riverbend will use bond proceeds to build and equip a full-size gymnasium and a new elementary school building. The elementary school building, which broke ground in October 2019, will house the lower elementary program for students in first, second, and third grades, as well as design and art classrooms, an afterschool program, and administrative offices. Both buildings are scheduled to be ready for occupancy by the start of Riverbend’s 2020-2021 academic year. Wellesley Bank purchased the bond.

“We are pleased to provide Riverbend School with tax-exempt financing to construct a new elementary school building and gymnasium,” said MassDevelopment President and CEO Lauren Liss. “These new facilities will enhance Riverbend’s dynamic campus and further enrich the educational experiences of its student body.”

Riverbend Schol's new gymnasium
Riverbend School's new gymnasium

Riverbend was established in 2010 through the merger of the Eliot Montessori School and Natick Montessori. Riverbend applies the Montessori education method, which focuses on developing all aspects of the child, and was introduced a century ago by Italian physician Dr. Maria Montessori. Riverbend enrolls approximately 200 students ranging from age toddler through eighth grade. Hallmarks of a Riverbend education include a low student-to-teacher ratio, mixed-age classrooms to encourage student leadership and sense of community, and a personalized learning plan for each student. Riverbend is accredited by the Association of Independent Schools in New England (AISNE) and is a member of the National Association of Independent Schools, American Montessori Society, and Montessori Schools of Massachusetts.

“This project is transformative for our school,” said Riverbend Head of School Whitney Slade. “It allows us to build a purpose-built facility that showcases the best of a Montessori education. We appreciate the relationship we have established with MassDevelopment, and look forward to inviting them back in the fall to unveil our new campus.”

MassDevelopment, the state’s finance and development agency, works with businesses, nonprofits, banks, and communities to stimulate economic growth. During FY2019, MassDevelopment financed or managed 316 projects generating investment of more than $2 billion in the Massachusetts economy. These projects are estimated to create or support 9,743 jobs and build or preserve 1,992 housing units.