MassDevelopment has issued a $41.3 million bond for construction of a 78,000-square-foot multipurpose building on Parker Street at Wentworth Institute of Technology in Boston.

The building will house Wentworth’s new biological engineering program; its biomedical, civil engineering and experiential learning programs; Accelerate, Wentworth Innovation + Entrepreneurship Center, which houses interdisciplinary extracurricular programs that aim to build innovative and entrepreneurial thinking; and science and manufacturing labs. The building will also include a manufacturing lab with 3-D printers, office space and presentation and gathering areas for students, faculty, and staff.

“Wentworth’s enhanced emphasis on manufacturing, a key economic-development priority of the Baker-Polito Administration and MassDevelopment, will help to meet the labor needs of this critical sector,” MassDevelopment CEO Marty Jones said in a statement.

The new building will address the need for more collaborative, interdisciplinary academic spaces as Wentworth’s curriculum is updated to focus on areas such as biological engineering, Wentworth Vice President for Business David Wahlstrom said in a statement.