MassDevelopment issues $50.86 million bond on behalf of Dana-Farber Cancer Institute

Image provided by MassDevelopment.
Image provided by MassDevelopment.

MassDevelopment, the state’s finance and development agency, said it has issued a $50.86 million bond on behalf of Boston’s Dana-Farber Cancer Institute.

The institute, whose mission is to research and treat cancer, will use bond proceeds to fit out and equip 154,100 square feet of space in a third-party building known as the Longwood Center. Plans call for the space to be used as biology and chemistry research laboratories as well as related storage and support areas, and to accommodate expansion.

According to MassDevelopment, the project will result in 250 construction jobs. 

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“Dana-Farber exemplifies the Commonwealth’s world-class healthcare sector with its groundbreaking research and work to eradicate cancer, AIDS, and related diseases,” MassDevelopment president and chief executive Marty Jones said in a statement. “We’re pleased to leverage this financing to create jobs and laboratory space that will help fight these scourges.”   

During its fiscal 2012, MassDevelopment said it financed or managed 280 projects generating investment of more than $2.3 billion in the state’s economy. Those projects are projected to create more than 12,000 jobs and build or rehabilitate 900 residential units.