What: 99 Athens St. and 69-71 A St.
Where: Boston
Owner: CIEE Inc. 

MassDevelopment has issued a $31.5 million tax-exempt bond and a $6 million taxable bond on behalf of CIEE Inc., a nonprofit provider of international education and experiential learning programs headquartered in Portland, Maine. 

CIEE Inc. will use bond proceeds to buy 99 Athens St. and 69-71 A St., two adjacent buildings in Boston’s Fort Point neighborhood. The company will demolish the building at 99 Athens St. and expand, renovate, and furnish the building at 69-71 A St., ultimately creating a single 5-story, 45,700-square-foot office building. CIEE Inc. will also use bond proceeds to build a parking lot on the same parcel. 

The project will enable CIEE Inc., which currently leases office space in downtown Boston, to consolidate and expand its Boston-based team at its new Fort Point location. The project is expected to create 82 jobs and support 132 construction jobs. Key Government Finance Inc. purchased the bond.  

A nonprofit, nongovernmental organization, CIEE Inc. is the country’s oldest and largest nonprofit study abroad and intercultural exchange organization.  

“CIEE appreciates this support that will enable us to establish a larger Boston-based staff, all working to fulfill CIEE’s mission to transform lives and build bridges between individuals and nations by promoting the exchange of ideas and experiences.”  — CIEE President and CEO James Pellow