Financing is arranged for conservatory renovation

Fantini & Gorga, a real estate investment banking firm headquartered in Boston, said it has arranged $22.2 million in financing for the Boston Conservatory, which looks to redevelop its existing theater into a world class performance center.

On its website, the conservatory said it is calling the renovation the "Hemenway Project." A ground-breaking ceremony is scheduled for tomorrow at 31 Hemenway St., the website notes.

"The Hemenway Project is the $30 million renovation and expansion of the conservatory’s 60-year old theater building at 31 Hemenway Street," the conservatory said on one of its web pages. "The project, once completed in fall 2010, will add 16,000 square feet of new rehearsal and studio performance space, as well as air conditioning, handicapped accessibility, improved seating, and a host of technical upgrades in the 340-seat theater.  It is the first major facilities initiative undertaken by the institution in 50 years."

The financing, which was part tax-exempt and part taxable, was placed with Wainwright Bank. said Fantini & Gorga, an affiliate of Eastern Bank.

The rendering that accompanies this post shows how the conservatory will look after its makeover; it was provided by Fantini & Gorga.
(By Chris Reidy, Globe staff)