St. Mark's School in Southborough, Mass., is constructing a $47.9 million residence hall.
The 90,000-square-foot facility will provide living space for about 150 students, reports MetroWest Daily News. It will also include 12 faculty apartments.
MassDevelopment awarded the private school a $47.9 million tax-exempt bond that will make the project possible. MassDevelopment is a quasi-public agency that provides financing to private entities and nonprofits.
St. Mark's School is a 156-year-old private boarding school. Students come from 15 countries and 19 states.
The residence hall will be situated in the central core of campus, meaning students will no longer need to cross a busy road to get to their rooms.
The school is an Episcopal preparatory school situated on a 200-acre campus. About three-quarters of the school's 370 students live on campus.
Construction is expected to end in August 2022.
