Comp Sci High, a charter school in the Bronx that prepares students to access jobs in the region’s tech industry, will get a new facility to accommodate its growing enrollment thanks to a new loan from LISC.
How many adults can say that, as high schoolers, they were taught to make a concrete plan to reach financial independence by age 25? At Comp Sci High in the Bronx, that’s exactly what students learn to do, along with how to follow through on those plans.
Rooted in the historic and historically underserved neighborhood of Mott Haven, Comp Sci High is a charter school committed to helping students access jobs in the region’s tech industry and providing a high school experience that leads to fulfilling, family-sustaining careers. The school prepares its students, predominantly low-income and students of color, to reach college armed with strong academic and social skills, marketable tech know-how and certifications, and real work experience.
When it opened its doors in 2018, Comp Sci High served 110 students in ninth grade. By 2022, the school had grown to 439 students from ninth through 12th grade. To accommodate its burgeoning student population, Comp Sci High currently houses ninth through 11th grade classes in a New York City Department of Education building, shared with another school, and rents a private space for 12th grade students.
With enrollment continuing to climb (the school receives thousands of student applications each year), Comp Sci High leaders knew they needed a single site to serve as the school’s long-term home, but they had never embarked on a development project of this size and scale. That’s where Civic Builders, an experienced charter school facilities developer, came in to bring the school’s vision to life—with some help from LISC.
Civic Builders helped Comp Sci High assemble $44 million in a New Markets Tax Credit (NMTC) allocation to build the school’s new home. LISC Charter School Financing, along with the Enterprise Community Loan Fund and Low Income Investment Fund, each provided $9.7 million in loans to the NMTC structure to finance the acquisition and construction of a new building not far from the school’s current facilities.
“LISC’s flexibility and adaptability was instrumental in allowing Civic Builders to close on our construction financing for a 46,000 square foot education facility in the South Bronx, which will be leased with a purchase option to our stellar school partner,” said Ross Hoffman, a real estate investment associate with Civic Builders. “This facility will allow Comp Sci High to consolidate an operationally challenging split campus setup into a permanent, unified home for Fall 2024.”
Once the building is complete, Comp Sci High will be able to serve some 500 students, host community events throughout the year, and offer a summer program that will employ its students. The project’s environmental goals include achieving LEED Silver certification.
“LISC’s investment in Comp Sci High furthers our mission to support high-quality public schools as an essential part of community development,” said Kelly Theofanis, a senior loan officer at LISC. “With a new permanent home, the school will be able to prepare more students to thrive in college and in their chosen careers. We’re excited to be part of this impactful project.”