$2.5M for Lighthouse's Move to Gateway City Arts

September 17, 2024

Kelsey Schiller, 857-325-3477
kschiller@massdevelopment.com

Catherine Gobron, LightHouse Holyoke
catherine@lighthouseholyoke.org 
413-386-8316

HOLYOKE, Mass. – MassDevelopment has issued a $2.5 million tax-exempt bond on behalf of LightHouse Personalized Education for Teens, Inc. (LightHouse Holyoke), an innovative nonprofit school serving both private and public school students in grades 6-12. The organization used bond proceeds in addition to proceeds from its ongoing capital campaign to buy a three-building complex at 92 Race St. in Holyoke formerly known as Gateway City Arts, a portion of which will serve as a new home for the school. LightHouse Holyoke plans to increase enrollment to serve as many as 160 students at the new location in the coming years, as well as welcome additional young adults ages 16-24 as Production Academy students and interns. LightHouse Holyoke expects to create eight full-time jobs and 15 part-time jobs in the next three years. The tax-exempt bond, purchased by Greenfield Cooperative Bank (GCB), helped LightHouse Holyoke achieve a lower cost of capital.

The complex contains a total of about 39,000 square feet; LightHouse Holyoke is using bond proceeds to renovate and equip a portion of the complex, including adding handicap-accessible bathrooms, classrooms, offices, and heating system upgrades. The remainder of the complex includes a public-facing café which will make lunch and offer employment opportunities for LightHouse Holyoke students, as well as a 500-person-capacity performance venue, De la Luz Soundstage, which will reopen as a live venue while offering training, internships, and eventual job placement for LightHouse Holyoke students, alumni, and young adult interns who are interested in developing careers in the entertainment industry.

“Moving to the former Gateway City Arts complex will allow LightHouse to serve additional students in a newly renovated, dynamic learning environment,” said Acting MassDevelopment President and CEO Dan O’Connell. “MassDevelopment was pleased to partner with Greenfield Cooperative Bank on tax-exempt financing that has helped LightHouse fund the purchase and renovation of this property.”

“Greenfield Cooperative Bank is proud to support LightHouse in their mission to provide exceptional education and opportunities to young people,” said Tony Worden, GCB President & CEO. “By purchasing this tax-exempt bond, we are not only helping LightHouse acquire a new home, but also contributing to the revitalization of the Holyoke community. This investment aligns with our bank’s commitment to fostering economic growth and supporting organizations that make a positive impact on the lives of our neighbors.”

Founded in 2015, LightHouse Holyoke was previously located down the block at 208 Race St.  in downtown Holyoke. Its program provides a new way to experience school for youth who were not previously thriving in traditional environments. LightHouse Holyoke’s curriculum is entirely competency-based and personalized for each student and includes a mix of classes, online classes, internships, and volunteer or paid work. LightHouse Holyoke is changing what school can be. More than half of LightHouse Holyoke’s existing 80 students live in Holyoke, with the rest coming from surrounding towns. LightHouse Holyoke is accredited by the New England Association of Schools and Colleges. Its college acceptance rate is 100%.

“Our new home allows us to introduce several exciting new vocational tracks, a wealth of new programming, and double our enrollment over the next two years,” said LightHouse Holyoke Executive Director Catherine Gobron. “We're launching a Production Academy where students will learn event production and stagecraft, a new theater program led by 12-year Blue Man, Isaac Eddy, setting up a community maker space to share this resource with the larger community, and developing a cafe management program to give our students hands-on experience in the culinary world. Looking ahead, we're also planning to introduce vocational programs in carpentry, metalwork, and tailoring. Gateway City Arts was founded and developed by Lori Divine and Vitek Kruta over the last 12 years. We could not be more honored to take up the mantle and continue their work of developing a thriving arts and education community in downtown Holyoke.”

MassDevelopment has previously supported the Gateway City Arts complex. In 2017, the agency awarded a $165,000 grant from the Collaborative Workspace Program to increase accessibility and flexibility in the complex by replacing the former freight elevator with an ADA-compliant passenger elevator.

MassDevelopment, the state’s development finance agency and land bank, works with businesses, nonprofits, banks, and communities to stimulate economic growth across the Commonwealth. During FY2023, MassDevelopment financed or managed 545 projects generating investment of more than $2 billion in the Massachusetts economy. These projects are estimated to create or support 10,522 jobs and build or preserve 1,583 housing units.