TD Bank has provided $32 million in financing for construction of a 75,000-square-foot athletic and arts center at The Masters School in Dobbs Ferry.
The bank purchased a fixed rate, tax-exempt bond issued by the Dobbs Ferry Local Development Corporation on behalf of the Masters School, a coeducational college preparatory school for day and boarding students at 49 Clinton Ave. Founded in 1877, the school occupies a 96-acre campus in Dobbs Ferry.
The school is using proceeds from the recent bond sale to repay existing tax-exempt variable rate demand bonds and to finance the athletic and arts center, for which the school hosted a ceremonial groundbreaking in mid-October.
Built for energy efficiency and equipped with rooftop solar panels, the center will house a café, fencing facilities, a six-lane competition swimming pool, four squash courts, a fitness center, a raised running track and a gymnasium with a basketball court, two practice courts and two volleyball courts. Its arts space will include two dance studios, an art gallery, music rehearsal and performance space, a video and photography studio, media arts lab and a black box theater.
Project architect is Peter Gisolfi Associates in Hastings-on-Hudson.
“TD Bank strives to invest in organizations that offer quality education and enhance communities,” Chris Giamo, regional president for TD Bank in New York, said in a press release. “The Masters School provides students with a well-rounded education, and TD Bank is proud to invest in its wonderful athletic and arts center that has features that also align with TD”™s commitment to the environment.”
One of the 10 largest banks in the U.S., TD Bank is headquartered in Cherry Hill, N.J.
