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$6.9M bond allows LEO inc. to expand childcare services

Success Story

MassDevelopment issued a $6.9 million tax-exempt bond, purchased by Eastern Bank, to help LEO Inc. renovate its existing headquarters at 156 Broad St. and 2-4 Farrar St. in Lynn and expand access to early education and care for low-income children in the Greater Lynn region. As part of the project, the organization’s three-story building is being converted into a preschool housing 15 classrooms and is being designed to serve 270 students, an increase of 38 students over current enrollment. It will also feature a commercial kitchen and nutrition center, gross motor room, and multipurpose room for parent education and community meetings. Renovations also include expanding two playgrounds and making the entire building ADA accessible.