MassDevelopment Issues Bonds To Two Central Mass Projects
Anna Maria College in Paxton will build a 200-bed residence hall and a 200-space parking lot with $26.82 million in tax-exempt bonds and a $1.68 million tax-exempt lease issued by MassDevelopment.
The tax-exempt lease will be used to lease equipment that will lower the college's energy costs. The projects also include water main upgrades.
Danversbank has purchased the bonds, according to MassDevelopment.
MassDevelopment also issued a $600,000 bond on behalf of HW3 Housing Associates LP, which will convert the former Heywood-Wakefield furniture building in downtown Gardner to a 78-unit assisted living facility.
The bond financing will qualify the project for Tax Credit Assistance Program funds through the American Recovery and Reinvestment Act.
The Heywood-Wakefield complex is on the National Register of Historic Places.
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