MassDevelopment has issued $90 million in tax-exempt bonds on behalf of the Berklee College of Music, which will use the proceeds to build a 16-story, 155,000-square-foot, mixed-use building at 168 Massachusetts Ave. in Boston.

The building, designed by William Rawn Assoc. Architects Inc. of Boston, will have new dorm space to house 370 students, a two-story dining hall, performance space with seating for 400, a music technology center with recording studios and retail space on the ground level.

"Berklee College is renowned worldwide for its inventive programs, distinguished alumni, and top-tier faculty," said MassDevelopment President and CEO Marty Jones. "MassDevelopment proudly backs this project, the first step in the College’s expansion, with low-cost financing because this new building can remake a major Boston corridor."  

Berklee said it expects construction on the building to begin this fall. The school’s master plan includes two more buildings, for a total of 500,000 square feet of performance, student life, administrative and dorm space, according to a statement.