A Massachusetts state agency has approved financing for the construction of two buildings on a college campus in Springfield.
MassDevelopment issued a $10.5 million tax-exempt bond for American International College to build a new health science facility and a new residence hall.
Chris Garrity, AIC Vice President for Finance, said the projects will increase enrollment, provide badly needed housing for grad students, and contribute to the city’s redevelopment.
"We like to partner with the city and we're happy to be in this neighborhood and we're happy to spend the money in the neighborhood and also do it with a relatively low interest rate to make it affordable," said Garrity.
Both buildings are expected to be finished in time for the fall 2018 semester.
