A digital rendering of the teen center being built on the Boys and Girls Club of Chicopee complex.
Photo credit: Boys and Girls Club of Chicopee
CHICOPEE — The Boys and Girls Club of Chicopee’s teen center project received some financial help after receiving $1.5 million in lower-cost financing for Haven, the new teen center at 508 Meadow St.
MassDevelopment, the state’s development finance agency and land bank, announced the bond.
Boys and Girls Club Executive Director Jason Reed said that the bond allows the Boys and Girls Club to borrow money at lower cost.
“This is a tax-exempt bond, providing a lower interest rate than traditional financing would have. This will save the organization a fair amount of interest over the term of the loan,” he added.
Although the process was lengthy and complex, according to Reed, he credited the hard work of each company and organization for getting it done.
Reed said, “The folks from MassDevelopment, PeoplesBank and all of our attorneys worked well together to ensure we were able to close on the bond in a timely manner. This allowed us to keep up with our rigorous constructions schedule.”
The Boys and Girls Club of Chicopee announced the capital campaign to construct a 4,500-square-foot new building at 580 Meadow St. for a new teen center.
The whole process includes a three-phase project, totaling over $3 million, with the actual building being Phase 3. The new building is expected to cost $2.5 million.
Phase 1 included a parking lot reconstruction project and Phase 2 included replacing the current single outdoor basketball court with a new, concrete full court and half court.
The teen center will provide a safe place for teens, a study zone, digital media lab, Zen room, club café, gaming den and professional development programs designed for teens.
As the only independent organization in the city that offers robust programming designed for teens, a new teen center will allow for the club to provide teens resources to enjoy their teen years and help to prepare them for their future.
Construction for the teen center is progressing on time and on budget and Reed added, “Excitement from our current teens is building, as they are able to watch the progress.”
Currently, the Boys and Girls Club have outdated space located in the existing building.
The teen center will be called Haven, which means a place of safety. This will be a safe place for teens in the city and a location to focus on their futures.
Marketing and Development Director Lynn Morrissette said the hope is for construction be completed in October.
Once completed, Morrissette said she looks forward to the turnout of the new teen center.
She said, “Our main objective is to provide a safe space for teens to feel like they belong. We are confident that this building, designed specifically for teens, will draw them in, engage them with our programs and staff, and allow us to provide the resources and supports they need.”
A lot of the funding for the project has come from local and state funding along with a lot of support from government officials.
Although the bond helps with the construction costs, Reed said they are still raising funds.
He said, “While this bond is great, we are still responsible for paying down the principal and lower interest. Our steering committee has worked tirelessly to raise funds, but we are still hoping to secure another $500,000 in contributions and pledges.”
Readers looking to learn more about the project or how they can help support the project, they can visit bgccteencenter.com.
