JPMorgan Chase and LISC San Diego Provide $13.3 Million to build new KIPP Adelante Preparatory Academy in Southeast San Diego
3.03.2021
—
Press ReleasesSan Diego: Economic Development
SAN DIEGO – With the recent completion of the KIPP Adelante Preparatory Academy in Southeastern San Diego -- financed in part with $9.15 million from LISC San Diego and $4.15 million from JPMorgan Chase -- a new community resource has been constructed for the residents and youth of San Diego’s City Council District 4.
Founded in 2003, KIPP Adelante Preparatory Academy is a tuition-free college preparatory middle school that operates as a public charter institution.
The new two-story, 27,110-square-foot education building located at 426 Euclid Avenue was recently completed during the pandemic and will be fully occupied when KIPP resumes in-person education.
“We are proud to partner in financing such an important project and we look forward to a post-COVID-19 time when students, the community, and LISC San Diego can officially open this new school,” said Ricardo Flores, LISC San Diego executive director.
Artist rendering of KIPP Adelante Preparatory Academy, a tuition-free college preparatory middle school in Southeastern San Diego.
“At a time when there is so much uncertainty around education, we look forward to the opening of the KIPP Adelante Preparatory Academy when in-person classes resume. This state-of-the-art facility will help local students get back up on their feet quickly and to excel at the highest levels academically,” said Sarah Bowles, Vice President of Global Philanthropy for JPMorgan Chase.
About LISC:
A non-profit funding agency founded in 1991, LISC San Diego has invested $232 million in grants, loans, and equity investments in the city’s low-income communities. This investment has leveraged $1 billion in total development costs, leading to the creation of more than 6,000 affordable rental-housing units for San Diego’s most vulnerable families and the development of 1 million square feet of retail and commercial space.
About JPMorgan Chase:
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $3.2 trillion and operations worldwide. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of customers in the United States and many of the world’s most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.
