Brimmer Builds New Recreation Center

MassDevelopment issued a $16.5 million tax-exempt bond on behalf of the Brimmer and May School (Brimmer), an independent day school in Chestnut Hill serving students in prekindergarten through grade 12. Brimmer is using proceeds to demolish an outdated gymnasium on the school’s campus and in its place build a new approximately 26,000-square-foot recreation and wellness center that will feature a basketball gymnasium, classrooms, locker rooms, and nurse and trainer offices. The tax-exempt bond, purchased by 233 Genesee Street Corporation, a subsidiary of M&T Bank, helped Brimmer achieve a lower cost of capital. MassDevelopment has previously supported The Brimmer and May School, including issuing a $7 million tax-exempt bond in 2017 to help the school build and equip a 7,000-square-foot addition that includes a new kitchen, dining area, and teaching space as well as renovate, furnish, and equip an existing building to provide more space for college placement and other classes.