Elyse Cherry, CEO of BlueHub Capital (center in red) attended the groundbreaking for the new FCTech campus with Dr. Aisha Francis, President & CEO of FCTech (left center in black), and community partners. Credit: Flavio D Photography

Benjamin Franklin Cummings Institute of Technology

Borrower
Benjamin Franklin Cummings Institute of Technology (FCTech)
Location
Roxbury, Massachusetts
Financing Used For
Construction
Loan Amount
$19.5 million New Markets Tax Credit investment
Partner(s)
Chase Bank

The Circumstances

Established in 1908, the Benjamin Franklin Cummings Institute of Technology (FCTech) is one of the oldest technical colleges in the country. Today, FCTech’s technology-centric curricula awards nontraditional and low-income students degrees and certificates that align with local employers’ needs. This transformative education creates pathways to economic advancement and supports the economy with a skilled and diverse workforce.

The Shift

With programs that prepare people for in-demand careers — such as clean tech, electrical engineering and cyber security — the college needed state-of-the-art space that could accommodate far more students. A new campus was in order, and FCTech chose to build it in Roxbury’s Nubian Square, joining the coalition of institutions that are helping cement Nubian Square’s identity as Boston’s “Education Innovation District.” The new location is also close to the homes of many of FCTech’s students, faculty and staff and easily accessible by multiple forms of public transportation.

The Result

FCTech’s new campus will accommodate 76% more students than its current century-old campus. Vitally, the 68,000-square-foot educational center will be purpose-built for advanced technical training, with cutting-edge labs, a manufacturing center and a walk-in optical shop, among many other innovative learning environments. “Our new campus will elevate Franklin Cummings Tech’s ability to prepare our graduates for meaningful, well-paying careers in today’s economy,” proclaims Dr. Aisha Francis, President & CEO of FCTech.

"BlueHub Capital is an essential part of the creative public, private, philanthropic partnership that is making our new campus possible and contributing to Nubian Square’s future as the next high-power educational, cultural and entrepreneurial hub in Boston.”-Dr. Aisha Francis President & CEO, Franklin Cummings Tech