Bay Area Private School Borrows $26 Million for Mansion Makeover

A Bay Area private school is borrowing $26 million in muni bonds to modernize the historic mansion that stands as the picturesque centerpiece of the campus.

The Crystal Springs Uplands School about 20 miles south of San Francisco charges $66,450 a year and serves almost 570 students. It plans to use proceeds from the sale to help pay for the nearly $50 million makeover of the opulent mansion its called home for almost 70 years.