Northshore Education Consortium Upgrades Facilities

A major renovation project undertaken by the Northshore Education Consortium (NEC) is ensuring that students of all backgrounds have a safe and comfortable learning environment. With a $9.4 million tax-exempt bond issued by MassDevelopment, the building at 112 Sohier Road in Beverly which houses the Kevin O’Grady School (serving students ages 3-22 with significant developmental disabilities) and Northshore Recovery High School (high school education for teens affected by substance abuse) underwent improvements including a new roof, replacement boilers, HVAC, and electrical system updates. The bond was enhanced with a $2.9 million mortgage insurance guarantee through the Development Finance Insurance Fund (DFIF) and purchased by M&T Bank – helping NEC achieve a lower cost of capital.