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Worcester Academy Renovates Halls, Gym With $20M MassDevelopment Bond

Aug 7, 2013 | Reprints | Unlock Link | Print

worcester_academy_walker_landscape

MassDevelopment has provided a $20,266,630 tax-exempt bond on behalf of Worcester Academy, an independent preparatory school.

The academy will use bond proceeds to renovate the interiors and exteriors of Walker Hall and the Megaron – a student gathering center since 1905 – restore the exterior of Daniels Gymnasium and perform various other campus renovations. The school will also refinance previous debt. United Bank purchased the bond.

“Worcester Academy offers a unique community approach to innovative and intensive education preparing students as learners and global leaders,” said MassDevelopment President and CEO Marty Jones. “This low-cost financing helps the school renovate and better fulfill its mission.”

Founded in 1834, Worcester Academy operates as an independent coeducational day and boarding school on 67 acres of land in Worcester. The school serves 650 students in grades 6 through 12 and postgraduates.

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