MassDevelopment issued a $6.9 million tax-exempt bond for LEO Inc. to convert its headquarters into a preschool in Lynn, MA, serving 270 students. The renovation includes 15 classrooms, a commercial kitchen, a gross motor room, and a multipurpose room. Eastern Bank purchased the bond, reducing LEO’s cost of capital. 

“Expanding affordable early education and child care helps kids and families thrive, creates jobs, and benefits local employers,” said MassDevelopment president and CEO Dan Rivera. “We’re thrilled that LEO Inc. will be able to renovate its building in Lynn to create a dynamic environment of learning and care for students.” 

Renovations will also expand two playgrounds and make the entire building ADA-accessible. Demolition began in June 2023 and the preschool is expected to open in January 2025.