MassDevelopment has issued $25 million in tax-exempt bonds on behalf of High Point Treatment Center, Inc., a mental health and substance use disorder service provider, to improve its centers in Barnstable (Hyannis), Brockton, and Plymouth, expand services, and reach more clients. The tax-exempt bonds, purchased by Rockland Trust, helped High Point Treatment Center achieve a lower cost of capital and leverage a New Markets Tax Credit allocation from Massachusetts Housing Investment Corporation.
“Organizations like High Point Treatment Center play a critical role in expanding access to mental health and substance use care across Massachusetts,” said Economic Development Secretary Eric Paley, who serves as Chair of MassDevelopment’s Board of Directors. “This investment will expand access to care and ensure more residents across southeastern Massachusetts can get the support they need.”
“MassDevelopment is pleased to partner with Rockland Trust and Massachusetts Housing Investment Corporation to help High Point Treatment Center invest in this multi-campus improvement project,” said MassDevelopment President and CEO Navjeet Bal. “Through its renovations to facilities in Barnstable, Brockton, and Plymouth, the organization is positioned to enhance and expand mental health services for clients and create jobs in the region.”
In Barnstable, High Point is using bond proceeds to acquire and renovate a 34,000-square-foot commercial building at 60 Perseverance Way. Renovations to the first floor of the building will provide space for youth-focused programming and an adult clinic for outpatient services, while renovations to the second floor will include developing a 64-bed treatment facility. High Point expects to create approximately 123 full-time and six part-time jobs at the Barnstable facility over the next three years.
In Brockton, High Point is using bond proceeds to buy, renovate, and expand a commercial building at 10 Meadowbrook Road. High Point will add a two-story, 2,500-square-foot addition for a gymnasium, program space, and storage space. High Point will also remove an obsolete smokestack from campus, expand an annex building, and improve parking areas and the building’s roof.
In Plymouth, High Point is using bond proceeds to expand its campus located at 1233 State Road with a new gymnasium and clinical office space. High Point will also replace the building’s roof and solar panels and re-side its exterior.
“We are proud to contribute to the enhancement and expansion of the High Point Treatment Center facilities in Barnstable, Brockton, and Plymouth,” said Louis Massa, Senior Vice President, Commercial Loan Officer at Rockland Trust. “In alignment with Rockland Trust’s commitment to supporting and uplifting the communities we serve, these renovations will enable High Point Treatment Center to expand service offerings and improve quality of care, ensuring that community members across the region have access to the vital mental health and substance use disorder services they need.”
“At MHIC, we know strong communities are built on access to care and opportunity,” said Moddie Turay, President and CEO of Massachusetts Housing Investment Corporation. “Our New Markets Tax Credit allocation helped close a critical financing gap and, alongside tax exempt bond financing, brought this vision to scale. When it opens, this will be the only detox facility on Cape Cod, keeping lifesaving treatment close to home and within reach for the people who need it most.”
