Williams College Gets $105M in Bonding for WCMA, Capital Projects

WILLIAMSTOWN, Mass. — Williams College has received more than $105 million bonding toward construction of the new art museum and other campus capital projects. 

 

The college announced on Monday that MassDevelopment has issued a $105,820,000 tax-exempt bond on behalf of the president and Trustees of Williams College. 

 

The organization will use bond proceeds to finance several projects on the college's campus, including (1) building and equipping a new art museum and multipurpose recreation center, (2) implementing the college's energy and carbon master plan, (3) renovating and equipping dormitories and dining facilities, (4) reimbursing the college for costs incurred to build and equip the Davis Center, and (5) completing other miscellaneous capital projects. The bonds were sold through a public offering with Goldman Sachs & Co. LLC serving as lead underwriter and B of A Securities, Inc. and Samuel A. Ramirez & Co., Inc. serving as co-managers.

 

The new Williams College Museum of Art off Field Park is expected to cost $175 million with the college planning to raise $100 million through donations; another $25 million toward the project was gifted in April 2024 by an anonymous donor.

 

"From our new art museum and multipurpose recreation building, to commencing campus decarbonization efforts, the new bond issue will fund work that supports our educational mission, fuels employment and benefits the culture, economy and people of western Massachusetts," college President Maud S. Mandel said. "MassDevelopment's program is helping us manage costs while investing in academic excellence, so that Williams can remain affordable to talented students from all backgrounds."

 

The Davis Center will include new construction between Jeness House and Rice House off Walden Street; the new build will be located where Hardy House was, behind the Purple Pub. It replaces the Multicultural Center and will provide a home to more than 20 student affinity groups along with academic support programs.

 

"The college is an important part of the town and a valuable asset for our community," said Town Manager Robert Menicocci. "We are pleased to see the college's continued investment in these past and future projects which will benefit both the college and the community as a whole."