Fantini & Gorga recently arranged $22.2 million in construction and permanent debt as well as an operating line for The Boston Conservatory.

The financing will allow the conservatory to redevelop its existing theater into "a world-class performance center," the company said.

The debt financing was part of a $30 million project that also integrated new market tax credits. The financing, which was part tax-exempt and part taxable, was placed with Wainwright Bank. 

In addition to renovating the existing 340-seat theater, the construction and renovation project – known as the "Hemenway Project" – will also add three new theater/dance studios and a performance/large ensemble rehearsal space.

The college, which was founded in 1867, is a conservatory that consistently ranks best-in-class for its theater, music and dance programs. 

 "This project is a tribute to the strength of The Boston Conservatory as an arts institution – it is absolutely thriving," said Joseph Eddy, managing director of Fantini & Gorga who along with George Fantini arranged the financing.  "It also shows Wainwright’s continued dedication to the community in this credit starved environment."

The Hemenway Project will encompass the existing theatre building at 31 Hemenway as well as construction on the adjacent parking lot at 27 Hemenway.  The building, which will be completed in the fall of 2010, will contain approximately 40,000 square feet of new and renovated state of the art performance space.