MassDevelopment has issued $69.8 million in tax-exempt bonds on behalf of Wentworth Institute of Technology in Boston, which will use bond proceeds to build a residence hall on campus.

The residence hall at 525 Huntington Ave. in Boston’s Fenway neighborhood will have 71 apartments totaling 305 beds and one resident director apartment.

Bond proceeds also refinanced a previous bond. RBS Citizens purchased the bond, and Wentworth expects the project to create more than 450 construction jobs and five permanent staff positions.

"With a renewed focus on manufacturing in Massachusetts, supporting schools like Wentworth that train students in this high-growth industry and other related engineering, technology, and design fields is more important than ever," said MassDevelopment President and CEO Marty Jones in a statement.