Lasell Moves Ahead with New Residence Hall and a New Bond Rating
May 04, 2011
Lasell College will soon break ground on a new residence hall that will complete a second quad on its Newton campus. The College's Board of Trustees approved the project earlier this spring.
The project, which will break ground May 16, includes a 102-bed residence hall, 74-space underground parking garage and a renovated green space and quad.
Lasell will finance the project supported by a new investment grade bond rating from Standard & Poors. The rating, BBB, will enable the College to obtain a lower interest rate on the bond to finance the project.
"We are thrilled to begin this project on the day after Commencement. It will provide more beds for our growing number of students and offer them a new, usable green space, with parking underneath," said Lasell President Michael B. Alexander.
Earlier this spring, Lasell learned that Standard & Poors had issued a credit rating of investment grade BBB with a stable outlook based on its assessment of the "college's strong operating surpluses on a full accrual basis, as well as its significant annual growth in tuition revenue, steady growth in total enrollment, and stable demand."
In addition, Standard & Poor's stated, "The stable outlook reflects Standard & Poor's expectation that Lasell College will experience continued positive operating surpluses on a full accrual basis, stable overall enrollment, and growth of financial resources relative to the rating category."
The college has doubled in size over the past 10 years; total headcount in fall 2010 was just under 1,798 students, of which 1,630 were undergraduates (1,614 full time equivalents) and 168 were graduate students (104 full time equivalents). The college currently offers 28 undergraduate majors and four graduate degree programs with a focus on Connected Learning, which integrates classroom learning with practical experience.