GRINNELL, Iowa- Grinnell College this week announced it has received a AAA Bond rating from Moody’s Investor Service. That is the highest rating an institution can receive.
The rating clears the way for a major building project around $110 to $115 million dollars. The school is constructing a new Humanities and Social Studies Complex. The new center will also incorporate Alumni Recitation Hall, and the Carnegie Building, which once served as the school’s library.
“We decided to build a complex that would pull the disciplines from them humanities and social studies into the same complex,” said Raynard Kington, who is president of Grinnell College. “The (older) buildings are important because they were cutting edge teaching facilities when they were built.”
School officials noted a few years back that science disciplines were moving toward teaching in collaborative spaces. That means different areas of study would work on the same problems. The school constructed such a center in 2007. Now it is a major upgrade for humanities and social studies.
“In many ways this was their turn,” said Kate Walker, who is the Grinnell College Vice President for Finance. “It also helps bring those learning facilities up to par with all the rest on campus, which is incredibly important to maintaining the kind of national recognition that we received as an institution.”
The new Humanities and Social Studies Complex is set to be completed in 2020. The school is also building a new Admissions and Financial Aid center, in the next phase, and finally plans a campus wide landscaping project.