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MassDevelopment has issued a $378.5-million tax-exempt bond on behalf of Northeastern University to construct a science and engineering complex located at 815 Columbus Avenue in Boston.

MassDevelopment Offers $379M Bond to Northeastern for 340K-SF Science Building in Fenway

MassDevelopment has issued a $378.5-million tax-exempt bond on behalf of Northeastern University, which is using a portion of proceeds to build and equip a new science and engineering complex located at 815 Columbus Avenue in Boston’s Fenway neighborhood. Construction is expected to be complete in fall 2023.

The eight-story, 340,000-square-foot science building, dubbed EXP, will include ‎laboratories, shared core research, makerspace, robotics ‎facilities, ‎faculty and administrative offices, a faculty club dining facility, and classrooms.

The bonds, sold through a public offering underwritten by a syndicate of banks led by Morgan Stanley & Co., Inc. and Barclays Capital Inc., will also be used to refinance previously issued debt. In 2022,

MassDevelopment, the state’s development finance agency and land bank, financed or managed 356 projects generating investment of more than $1.69 billion in the MA economy along with creating or supporting 11,080 jobs and building or preserving 1,778 housing units.

Photo courtesy Northeastern University

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About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.

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