BROOKLINE, MA – At its January meeting, The Brookline Teen Center (BTC) board of directors authorized the completion of all preparations necessary to begin construction at 40 Aspinwall Avenue, including the creation of final construction drawings. This significant step brings the project to the brink of breaking ground on a new state-of-the-art facility in Brookline Village.
“After more than six years of working with Brookline’s teen leaders and a tremendous cadre of community volunteers, I am thrilled that we are now this close to breaking ground” said Paul Epstein, Founder and Board Chairman. “Our confidence in approving this step forward stems from the tremendous support of leadership donors thus far, and our teaming up with Brookline Bank.” The directors announced that they had surpassed $4 million of pledges to what will ultimately be a $10 million campaign to build and sustain operations of the new facility. They also noted that they intend to break ground when they reach an interim goal of $6 million, a goal they hope to achieve this Spring.
In October 2011, BTC and Brookline Bank announced a line of credit that will allow construction to commence and the bank to be repaid by pledge payments to the BTC capital campaign over a period of up to five years. It also allows the BTC to start construction in 2012 as it completes raising the remainder of the funds that will build the12,000 square foot facility and sustain the organization well into the future. “We recognized the significant void this facility fills for Brookline’s youth,” said Paul Perrault, Chief Executive Officer of Brookline Bank. “There are too few places for teens to go after school or on weekends where they can enjoy a wide range of activities in a safe environment. In providing this financing, we are confident the BTC will receive the donations from this community necessary to both fund the construction and provide a funding base to help it meet its ongoing operating expenses.”
Brookline Bank is a subsidiary of Brookline Bancorp, Inc. (NASDAQ: BRKL), and is headquartered in Brookline, Massachusetts. A full-service financial institution, Brookline Bank provides individuals and businesses with deposit and lending services, residential mortgages and home equity lending, commercial and CRE lending, cash management, merchant services, and access to investment services. Brookline Bank operates 20 branches in Greater Boston. For more information go to BrooklineBank.com
The Brookline Teen Center is building a state-of-the-art teen center in the heart of Brookline Village. BTC Membership will be open to any 7-12th grader who attends school or lives in Brookline. Its mission is to provide a safe, enjoyable, environment where teenagers can engage in constructive, educational, and leisure activities, and to develop and empower diverse leaders who will enrich the Brookline community. For more information, go to BrooklineTeenCenter.org.
Contacts :
Tom Mendelsohn
Brookline Teen Center, Inc.
Tel : 617-216-8163
Peter Roveto
Brookline Bank
Tel : 617-730-3500
