MassDevelopment has issued $56 million in tax-exempt bonds on behalf of Worcester Polytechnic Institute (WPI), which plans to use bond proceeds to build a 140,000-square-foot sports and recreation center on its main campus.

The center will host student sports, recreational activities and conferences. Bond proceeds may also finance renovations, repairs, and improvements to facilities at the main campus as part of WPI’s seven-year capital projects plan.

"We’re proud that this low-cost financing can help build WPI’s sports and recreation center, which fulfills a key part of the university’s master plan," said MassDevelopment President and CEO Robert L. Culver. "This transaction represents a classic case of sound money helping smart minds build sound bodies, too."

The center, whose architect is Cannon Design Inc., will include a four-court, 29,000-square-foot gymnasium; a 25-meter natatorium; 11,000 square feet of fitness space; squash and racquetball courts; a rowing tank; athletic offices; a multi-level atrium; and a glass-covered passageway between the new center and WPI’s Harrington Auditorium.

Construction on the sports and recreation center is expected to start following the May 2010 commencement ceremonies, with a completion target date of August 2012. The project’s contractor is Gilbane Construction Inc.

The facility is designed to meet LEED (Leadership in Energy and Environmental Design) certification in keeping with WPI’s commitment to environmental sustainability. In 2007, WPI’s board of trustees endorsed a policy calling for all future buildings on campus to be environmentally friendly and designed to meet LEED certification. The center should be WPI’s third LEED-certified building; the others are Bartlett Center and East Hall.