BOSTON–Brookline Bank announced that Malden Catholic selected Brookline Bank and MassDevelopment to structure $35 million in tax-exempt bonds to fund a major expansion at 50 Crystal Street, Malden,MA.
The 70,000 sq ft building will include cutting-edge classroom and lab spaces, a spacious dining hall, modern administrative facilities, and a state-of-the-art athletic facility. Malden Catholic broke ground for the new campus this past Spring.
“Brookline Bank is proud to partner with Malden Catholic, one of the fastest growing Catholic high schools in New England, and a model institution for 92 years,” said Jerry Algere, SVP and Institutional Banking Team Leader in Brookline’s Commercial Banking Group. “MC’s expansion – along with the advanced programs they offer – will add a whole new dimension to what education can look like going forward.”
Founded in 1932, Malden Catholic is recognized for its rigorous academics, SFX Scholars Program, and award-winning STEM program. The school’s list of alumni boasts a Nobel Laureate, a Senator, two ambassadors, and numerous community and business leaders. “We are excited about our partnership with Brookline Bank,” said MC’s President John Thornburg. “Jerry and his team believe in what we are doing at Malden Catholic and made it possible for our vision to become a reality.”
MassDevelopment, the state’s development finance agency and land bank, works with businesses, nonprofits, banks, and communities to stimulate economic growth across the Commonwealth. “Congratulations to Malden Catholic for investing in a new, modern facility where students can learn, play, and grow together,” said Benny Wong, MassDevelopment’s SVP of Investment Banking. “MassDevelopment was pleased to partner with Brookline Bank to deliver tax-exempt financing for this expansion.”
