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The Boston Conservatory Issued $24.5M MassDevelopment Bond

Jan 18, 2012 | Reprints | Unlock Link | Print

MassDevelopment has issued a $24.5 million tax-exempt bond on behalf of The Boston Conservatory, a private college which offers graduate and undergraduate degrees in music, dance and theater to about 700 students.

The school will use a portion of the proceeds to buy and develop a building on Ipswich Street in Boston, creating space for classrooms, rehearsals, performances and student services. The remainder of the bond proceeds went toward refinancing a previous bond. First Republic Bank purchased the bond with underwriting by Zions Bank.

The purchase of 132 Ipswich St. will be "a vital component of the Conservatory’s master plan," said MassDevelopment President and CEO Marty Jones in a statement. "This move will help the school establish a permanent home for its specialized programming and help to better serve the needs of its thriving artist community."

The Conservatory expects to create 10 jobs as a result of this project.

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