Pacific Charter School Development

Expanding educational opportunities for students in under-resourced communities

PCSD

Exploring the World of Real Estate Development with PCSD

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Who did you meet with today?

Today, I had the opportunity to meet with Joe Wilson, who is a Project Director, and Scott Thomas, who is the project finance coordinator here at PCSD.

Where do they work? What does the company do?

Pacific Charter School Development is a nonprofit real estate development organization, with a goal of assisting schools on their journey to being a charter school by helping them with anything related to real estate, like finding a permanent facility. PCSD fundamentally builds charter schools from scratch, which means that the organization has many different areas that build up the final product, for example, scouting, finance, or the legal aspects.

What did you learn today? What were some highlights?

During my time with PCSD I learned about the process of how a school called Equitas was built.  As well as how a project finance coordinator manages and deals with different circumstances when it comes to money, which was particularly fascinating because I learned a rich history about a school PCSD worked on and new finance terms.

Some of the highlights of the day included viewing before pictures of Equitas and seeing the complete transformation in person, which provided me with a deeper understanding and appreciation of how much planning and effort went into the project. 

What insights did you gain into the field of real estate development?

One of the key insights I gained was understanding what a budget contingency is. A budget contingency is additional money that is used in case of unexpected costs during development, or in other words, kind of like emergency money in case we go over our budget. This showed me the importance of finance and budgeting because it ensures that a project could continue smoothly, even if unexpected circumstances occur. 

I realized that real estate development involves ensuring that a location is suitable for what it is planned for, which in this case would be a school. This requires communication skills and knowledge because someone has to look at the environmental factors of the property, the utilities, location, infrastructure,  legal issues and more. 

Did you become more interested in the field after today?

After today’s experience, I found myself more intrigued by the field of real estate development because learning about most of the steps that go into planning and building beforehand is interesting. Additionally, seeing the complete transformation of a school that used to be an armored car facility was awesome to see! The exposure has definitely increased my interest in pursuing a career in real estate development.

Joe highlighting a feature at EQ 5/6
Gathering at EQ 5/6
Joe talking about EQ 5/6 facility
Walking the halls of EQ 5/6
The team gathered by the playground at EQ 5/6

 

TCSD Launches Charter School Incubator

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TCSD is launching a new Charter School Incubator Program! This initiative is designed to support newly authorized charter schools by helping them identify both short-term and long-term facility solutions. We’re committed to providing expert guidance and resources to ensure these schools can thrive and serve their communities effectively from day one.

We’re pleased to announce that our first investment under this program is with UP Excellence, a newly authorized operator in Houston. This partnership will help UP Excellence create an outstanding educational environment for their students, embodying our commitment to educational equity and innovation.

PCSD Celebrates with RYSS Pasadena

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The RYSS Pasadena Campus celebrated with a Renovation Groundbreaking ceremony in June. They are undergoing a major renovation to create a state-of-the-art educational facility for PreK-12th grade. The revamped campus at full scale will accommodate 760+ students and feature a library, STEM and science labs, a large gymnasium, and a performance auditorium. This transformation underscores our commitment to providing high-quality learning environments for all students.

RYSS Team ready for groundbreaking
RYSS team at the ceremony
RYSS speaking
Eric Kot speaking
Registration and ready for the fans
Hard hats and hammers for the team
Cookies for the event

UP Excellence Academy: A Bold New Beginning for Houston’s Youth

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Texas Charter School Development (TCSD) has partnered with a newly authorized charter school in Houston – UP Excellence Academy.

Who is UP Excellence?

UP Excellence Academy is a newly authorized charter school that will open its doors in August 2024, serving 300 students from Kindergarten to 2nd grade. The school is led by Tamika Griffin, founder and CEO, who has 17 years in K-12 education. Her journey has been all about innovation and transformation, and she’s dedicated to making sure every student succeeds.

The school is dedicated to nurturing scholars for success in both their academic journey and life endeavors. They will achieve this by delivering an education steeped in an entrepreneurial mindset, empowering each scholar to discern and embark upon their distinct pathway to achievement.

The Big Challenge

Starting a school from scratch is tough. UP Excellence was in search of a suitable space in Houston’s 5th Ward that could be transformed into the joyful learning environment that they envisioned to serve their future students and the community, while also being conscious of maintaining affordability. But finding an affordable location that fit the bill was a challenge. There were no available facilities in the quickly gentrifying neighborhood and the big worry was that the school might have to delay its opening by a year.

The Solution

TCSD partnered with UP Excellence to find a facility solution which would allow the school to open on time for the 2024-2025 school year. We found a 55,000 square foot, former charter school facility in North Houston that was available. After careful review, it was clear this location could help UP Excellence achieve its mission.

Here’s what TCSD is doing to help make the facility a reality

  • Low-cost financing: We provided an $800,000 below market rate loan.
  • Project management: We handled the entire project, from coordinating with contractors, to managing the budget, to working with the City of Houston on obtaining the school’s occupancy certificate.
  • Lease and legal support: We secured a 15-year lease with flexible renewal and purchase options, and negotiated a lower lease cost for the first three years which allowed the school to grow into the space at an affordable cost.

The Happy Ending

Thanks to TCSD’s efforts and our close partnership with UP Excellence, the academy is set to open on time for the 2024-2025 school year. It’s the only new charter school in Houston to hit this deadline, showing the power of dedication and hard work.

Wrapping Up

UP Excellence Academy isn’t just a new school; it’s a beacon of hope and progress. It shows how community-focused efforts and strong partnerships can make a real difference. We’re excited to see the amazing impact it will have on its students and the community.

Stay tuned for more updates on UP Excellence!