Applewild School, a private, co-ed boarding and day school located in Fitchburg and Devens, has received an $11-million tax-exempt bond from MassDevelopment to upgrade its Fitchburg campus.
The bond, which was purchased by Enterprise Bank in Lowell, will be used to construct a dormitory on the campus and for various upgrades to its preschool and toddler facilities, according to a press release issued by state agency MassDevelopment on Tuesday.
“We are excited to introduce this state-of-the-art dormitory as an extension of our commitment to the growth and development of our middle school students,” Amy Jolly, Applewild School head of school, said in the release. “This facility is designed to create a supportive and enriching environment that complements our academic programs and promotes a sense of community.”
The funds will be used to continue the construction of a two-story, 17,000-square-foot dorm to house up to 40 students. Construction began in November and is expected to be completed by August so it can be utilized by students in the upcoming school year.
Founded in 1957, Applewild operates a co-ed junior boarding school for grades 4-9 and a day school serving preschoolers through grade 9, according to its website.
“This new dormitory building will allow Applewild to accommodate more students in search of boarding options and create an enhanced educational experience for many generations to come,” MassDevelopment President and CEO Dan Rivera said in the release. “MassDevelopment is pleased to be a resource for schools like Applewood as they build welcoming environments for students to live and learn.”
MassDevelopment financed or managed 545 projects generating investment of more than $2 billion in the Massachusetts economy during fiscal 2023.
