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