MassDevelopment issued $25M in tax-exempt bonds for High Point Treatment Center to upgrade and expand mental health and substance use facilities in Barnstable, Brockton, and Plymouth, MA. Rockland Trust purchased the bonds.
High Point Treatment Center is moving forward with a multi-site capital improvement program across three southeastern Massachusetts communities, backed by $25 million in tax-exempt bond financing arranged through MassDevelopment and purchased by Rockland Trust.
Founded in 1996, High Point operates a continuum of behavioral health services focused on substance use disorder and mental health treatment, with a primary footprint in the southeastern part of the state. Bond proceeds are being directed toward facility acquisitions, renovations, and new construction across Barnstable, Brockton, and Plymouth simultaneously, a scope that reflects years of organizational growth since MassDevelopment last financed the nonprofit in 2014.
Massachusetts Housing Investment Corporation contributed a New Markets Tax Credit allocation to the deal, helping bridge a financing gap that made the multi-campus scope achievable. Tax-exempt bond structures paired with NMTC allocations are a common mechanism for nonprofits undertaking capital projects of this scale, as the combination reduces effective borrowing costs below conventional financing rates.
Cape Cod currently lacks a dedicated detox facility, a gap the Barnstable project is intended to address. High Point is acquiring and renovating a 34,000 SF commercial building at 60 Perseverance Way in Hyannis, with outpatient adult services and youth programming on the first floor and a 64-bed residential treatment facility on the second. Roughly 123 full-time and six part-time positions are projected at that location within three years.
At 10 Meadowbrook Road in Brockton, renovation and expansion work includes a new two-story, 2,500 SF gymnasium addition, annex expansion, smokestack removal, and parking and roofing improvements. In Plymouth, the project at 1233 State Road adds gymnasium space and clinical offices, with roof replacement, new solar panels, and exterior re-siding also planned, according to a MassDevelopment announcement.