MassDevelopment Issues Tax-Exempt Bond for Smith College Renovations

MassDevelopment issued a $45.7-million tax-exempt bond on behalf of The Trustees of the Smith College to complete a range of renovation projects at the college’s Northampton campus. Barclays Capital, serving as the lead underwriter, sold the tax-exempt bonds through a public offering.

Smith College will use bond proceeds to renovate HVAC and air-handling systems at the Burton and Sabin-Reed science buildings, renovate the HVAC system at Sage Hall, replace a combustion turbine to be used for backup power generation, make accessibility upgrades to various campus buildings, complete stabilization work along the bank of the Mill River and make repairs to Lamont Bridge.

“For more than 150 years, Smith College has been an important part of Massachusetts’ academic community and talent-driven economy,” said Economic Development Secretary Eric Paley, who serves as chair of MassDevelopment’s board of directors. “This financing will help Smith invest in its Northampton campus and ensure it continues to serve generations of students and faculty for years to come.”

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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