Eastern Bank donates $2 million to Lynn Public Schools

Lynn, MA The city of Lynn’s purchase of the former Eastern Bank headquarters at 195 Market St. is paying dividends in more ways than one. In issuing an RFP in the spring of 2024, the city was seeking to acquire multi-purpose space, including for the relocation of Lynn Public Schools administration from Bennett St. That would serve to create additional space for the growing pre-K program on Bennett St., as well as bringing the Frederick Douglass Collegiate Academy to Market St. from the campus of North Shore Community College, where it had been located since opening in 2022.

Missions accomplished: Frederick Douglass Collegiate Academy opened this year with 446 students, almost twice as many as 2024-25. The projected enrollment for 2026-27 is 625. Relocating to 195 Market St. not only allowed for expansion, but saved the city money in lease payments to run the program out of district.

Moving school administration to Market St. resulted in the addition of pre-K seats at Bennett St., part of an overall increase of 118 seats (23%) across the district in 2025. Lynn Public Schools also increased the number of full-day slots by more than double, from 171 in 2023-24 to 409 in 2024-25.

The procurement of the Eastern Bank building was the catalyst for this unprecedented growth. As part of the official celebration of the relocation of Frederick Douglass Collegiate Academy on October 1, Eastern Bank presented Lynn Public Schools with a $2 million donation.

“We knew that acquiring this building would provide a unique opportunity for us in our goal to relieve the critical overcrowding issue in our school facilities,” said mayor Jared Nicholson. 

“We were excited when Eastern Bank responded to the RFP and appreciate the opportunity to work with the bank to make our plans come to fruition.”

At Frederick Douglass Collegiate Academy, students in grades 9-12 can earn an associate’s degree while still in high school. FDCA was designed to increase college success for first-generation, low-income and students of color.

“We are thrilled to celebrate the opening of LPS’ Downtown Campus to our students and the new home for FDCA,” said Nicholson. “This project is a win-win for our City and a strong reflection of what can be accomplished when we work together—transforming a former Eastern Bank building into a modern educational facility to provide an enhanced learning environment. We are incredibly grateful for Eastern’s generous $2 million donation, which further solidifies our commitment to providing top-tier resources for Lynn Public Schools.”

Bob Rivers, Executive Chair and Chair of the Board of Directors of Eastern Bank, said, “Eastern has a longstanding connection to the City of Lynn dating back more than 200 years to our roots on the North Shore. Today, that connection continues through our many employees who live and work in the community and are proud graduates of Lynn Public Schools. For many years, 195 Market Street played a meaningful role in our organization’s success, and we are proud to work with the City of Lynn as it repurposes the building to support the future education of Lynn’s students.”