Xaverian Brothers High School Builds Athletics, Academics Spaces With Help From $40 Million MassDevelopment Bond
July 24, 2013
Kelsey Abbruzzese, MassDevelopment, 617-330-2086 & 617-448-9077 (cell)
Julie Barr, Xaverian Brothers High School Director of Communications, 781-801-1618
MassDevelopment has issued a $40 million tax-exempt bond on behalf of Xaverian Brothers High School in Westwood, an all-boys college-preparatory, 7-12 school. Xaverian will use bond proceeds to build a 32,500-square-foot scholastic and wellness center; renovate the existing gym, fitness space, and a multi-purpose room; create a pedestrian plaza between the football field and the wellness center; and make improvements to athletic facilities and fields. Bond proceeds will also finance a new, 10,000-square-foot academic wing and other capital projects. Boston Private Bank & Trust Company purchased the bond.
“We’re pleased to leverage this low-cost financing for Xaverian Brothers High School to create new facilities and a new academic program,” said MassDevelopment President and CEO Marty Jones. “Seventh and eighth grade boys can soon attend the school, and these facilities will benefit all Xaverian students inside and outside the classroom.”
The Xaverian Brothers first began to operate a boy’s high school in Boston’s Roxbury neighborhood in 1926, and the school moved to its present location in 1963. The school serves about 875 students in grades nine through 12, representing 60 communities, and plans to add a 7th and 8th grade program, with the 7th grade beginning when construction is complete in fall 2014 and the 8th grade to follow in fall 2015.
“With the help of MassDevelopment and Boston Private Bank & Trust Company, we are excited to move forward with a new program and facilities that will help us further advance the mission of our school as a leader in Catholic education,” says Xaverian’s Headmaster, Brother Daniel Skala.
MassDevelopment, the state’s finance and development agency, works with businesses, nonprofits, financial institutions, and communities to stimulate economic growth across the Commonwealth. During FY2012, MassDevelopment financed or managed 280 projects generating investment of more than $2.3 billion in the Massachusetts economy. These projects are projected to create more than 12,000 jobs and build or rehabilitate 900 residential units.