YMCA Southcoast will acquire and renovate a property in Swansea to house a new branch, using a $12.4 million tax-exempt MassDevelopment bond.

The new Swansea branch will offer traditional YMCA fitness programs and services as well as childhood education and child care services to families living in Swansea, Somerset and surrounding communities.

"As one of the region’s major community-centered health and wellness institutions, YMCA Southcoast makes countless contributions that enrich and enhance the quality of people’s lives," MassDevelopment President and CEO Marty Jones said in a statement. "MassDevelopment is pleased to support the creation of a YMCA Southcoast branch in Swansea."

The new branch will be constructed on a property formerly owned by Grace Gospel Church, which includes 36.6 acres, athletic fields, a playground, parking lot, maintenance garage and two commercial buildings that total 43,400 square feet. The existing buildings will be extensively renovated.

"Without the tax-exempt bond financing program, the project would not have moved forward," Gary Schuyler, President and CEO of YMCA Southcoast, said in a statement.

Established in 1867, the YMCA Southcoast Inc. serves more than 35,000 people in 17 communities from the greater Fall River area to the Cape Cod Canal and offers programs for all ages and abilities. Programs include health and fitness, competitive sports, leadership training and more.