Child & Family Services Inc., a nonprofit organization that provides mental health services, community support, and adoption services to families in southeastern Massachusetts and New England, will use a $2.45 million tax-exempt bond issued by MassDevelopment to buy and renovate a New Bedford building and parcel of land. Taunton Avenue Securities Corp. purchased the bond.

The building is located at 3057 Acushnet Ave. and will serve as the nonprofit’s new headquarters. The organization employs 481 people statewide, including 290 in New Bedford.

"Purchasing this building will retain jobs in New Bedford, aid in our sustainability, and increase our capacity for growth. We are grateful to MassDevelopment for helping us to accomplish our goals," Anne Sampaio, Child & Family’s Executive Director, said in a statement.