Newton Private School Receives Large Endowment To Fund New Dining Center

NEWTON, MA — A major campus improvement project at a local private school has received $11.7 million in state-backed financing to fund its final phase of construction.

MassDevelopment announced this week that it issued an $11.7 million tax-exempt bond on behalf of The Fessenden School to help finance construction and equipment for a new dining center on the school's West Newton campus. The bond, purchased by J.P. Morgan, allows the independent school to borrow at a lower cost through the state's nonprofit financing program.

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The approximately 19,700-square-foot dining center is replacing an outdated facility that has served the campus for more than a century. Construction began in June 2025, and the school expects the building to be completed this summer in time for the start of the 2026-27 academic year.

According to the school, the new building is designed to support Fessenden's family-style dining program while better accommodating the nutritional and dietary needs of students, faculty and staff. The facility will include an all-electric commercial kitchen, flexible dining spaces and outdoor patio areas overlooking Hyde Slope. School officials have said it will be capable of serving more than 1,000 meals each day.

The project also incorporates a mass timber structural system and was designed to meet the Massachusetts Specialized Opt-In Stretch Energy Code as part of the school's broader sustainability goals. In addition to the new dining center, the overall campus project includes renovations to nearby Sanderson Hall, which is being converted into a student center with faculty apartments, offices, and event space.

"This project is a significant priority for the School and will support Fessenden students for generations to come," Chief Operations Officer Mike Grossman said in a statement. "The new dining center will enable the School to further develop our family-style dining program to ensure that we continue to meet the nutritional and dietary needs of our diverse student and adult population. We are grateful to MassDevelopment for their partnership."

MassDevelopment President and CEO Navjeet Bal said the agency's tax-exempt bond financing program helps nonprofit organizations renovate and expand their facilities while reducing borrowing costs.

Founded in 1903, The Fessenden School is an independent boys school serving students in pre-kindergarten through grade nine, with day and junior boarding programs. The school enrolls approximately 550 students from 15 states, 13 countries and 30 Massachusetts communities on its 41-acre West Newton campus on 250 Waltham St.

MassDevelopment is the state's development finance agency and land bank. The agency provides financing and real estate assistance to businesses, nonprofits and municipalities throughout Massachusetts. During fiscal year 2025, MassDevelopment financed or managed 409 projects, representing more than $4.65 billion in statewide investment.

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