MassDevelopment has recently issued $24.5 million in tax-exempt bonds for Atlantis Charter School, located in Fall River.

MassDevelopment has issued $24.5 million in tax-exempt bonds for Atlantis Charter School in Fall River. The School is using bond proceeds to build, furnish and equip a 98,000-square-foot, 3-story building that will house classrooms, a gymnasium, administrative offices and common areas. Atlantis Charter School is also using bond proceeds to build and equip an outdoor athletic field. MassDevelopment enhanced the financing with a charter school loan guarantee. The Washington Trust Co. of Westerly and BayCoast Bank purchased the bonds, and HJ Sims advised the school on financing.

“An investment in education is an investment in the Commonwealth’s future, and MassDevelopment is proud to provide Atlantis Charter School with financing that will help it improve its facilities and expand its mission,” Lauren Liss, MassDevelopment president and CEO, said in a statement.

Atlantis Charter School’s new campus was designed in collaboration with higher education and industry partners. In addition to a rigorous college-preparatory curriculum, the Upper School building will also include five school-to-career academies, which were developed in consultation with area colleges and universities, public and private institutions, as well as local community members and parents. The academies include business and entrepreneurship; STEM; arts, culture and design; teacher development; and health, med-tech and sports medicine.

“This is an ambitious project that will not only advance the strategic K-12 vision of Atlantis Charter School, but also contribute to economic development in the greater Fall River and South Coast region,” Robert Beatty, Atlantis executive director, said in a statement. “We are about to build a new home for inspired learning, creative thinking, and real-world experiences that empower a 21st century workforce with the knowledge and skills necessary for success. We are incredibly grateful for MassDevelopment’s support in this important effort.”