Boston Conservatory
$22,200,000
Boston, MA - Fantini & Gorga recently arranged $22.2 million in construction and permanent debt as well as an operating line for The Boston Conservatory. The financing, which was part tax-exempt and part taxable, was placed with a regional bank. The debt financing was part of a $30 million project that also integrated New Market tax credits. In addition to renovating the existing 340-seat theater, the construction and renovation project will also add three new theater/dance studios and a performance/large ensemble rehearsal space.
The Hemenway Project will encompass the existing theatre building at 31 Hemenway as well as construction on the adjacent parking lot at 27 Hemenway. The building, which will be completed in the fall of 2010, will contain approximately 40,000 square feet of new and renovated state of the art performance space.
The financing comprised of three separate debt facilities and multiple New Market tax credit providers.