Eastern Bank provides tax-exempt bond financing for public science common at the Museum of Science

Boston, MA Eastern Bank has provided tax-exempt bond financing for the William and Charlotte Bloomberg Public Science Common at the Museum of Science, a new 10,000 s/f civic venue designed to inspire lifelong engagement with science by sparking discourse and discovery through immersive experiences. With floor-to-ceiling glass overlooking the Charles River and 270-degree views of the city skyline, the William and Charlotte Bloomberg Public Science Common complements its civic mission with state-of-the-art immersive media, production, and livestreaming technology that enables events to reach audiences around the world. Eastern, as the sole lender, is providing a tax-exempt bond to support the project.

“The William and Charlotte Bloomberg Public Science Common and its plan to serve as a public convening space for the Museum of Science will continue to shape how we all understand science,” said Yongmei Chen, senior vice president and group director of community development lending of Eastern Bank. “We are proud to support the Museum of Science with the tax-exempt bond financing and setup of this new public space, aimed to benefit everyone’s access to science, technology and innovation for years to come.”

Eastern provides a range of community development financing offerings to fund the development of affordable housing and support the credit needs of nonprofits. Community development lending solutions include construction and real estate financing, working capital lines of credit, multi-layered leverage loans for both New Market and Low-Income Housing Tax Credit projects, tax-exempt bond financing, and highly sophisticated treasury services and deposit products.

The Community Development Lending team advising the William and Charlotte Bloomberg Public Science Common was led by senior vice president and group director of community development lending Yongmei Chen; senior vice president, community development lending team leader Erik Jones; and senior vice president, community development lending relationship manager John McBride.

Photo Credit: Nicolaus Czarnecki.