Pacific Charter School Development

Expanding educational opportunities for students in under-resourced communities

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Exploring Charter Educational Facilities: A Side Tour Recap During the OFN Conference

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PCSD took advantage of having so many partners in town by offering a special tour of three of our charter school projects near the Opportunity Finance Network (OFN) Conference in downtown Los Angeles. Designed to give lenders a close-up look at PCSD’s work in charter facility development, this informal tour celebrated our partners and showcased the impact we’re making together.

Here’s a recap of each stop:

Citizens of the World Los Angeles – Silver Lake Middle School

Our first stop set the tone with an exciting milestone—Silver Lake Middle School received its Temporary Certificate of Occupancy from the City of Los Angeles just hours before our tour! School staff is moving in now and the grand opening of the building is slated for November 13 at 4:30pm. This school less than 3 blocks away from the elementary school on Beverly Blvd reflects Citizens of the World’s community-centered approach to education. PCSD’s work helped shape flexible, collaborative spaces that offer students an environment as inspiring as it is functional.

Equitas Academy Elementary Schools 5/6

Next up, we visited Equitas Academy’s elementary campus on Pico Blvd that opened in 2022. This facility features vibrant classrooms and common areas designed to spark creativity and foster academic growth, perfectly aligned with Equitas Academy’s mission to prepare students for college and beyond. The top floor outdoor play space features solar tubes to bring light to interior classrooms.

Ednovate USC Hybrid High

The tour concluded with USC Hybrid High on Vermont Ave, where Ednovate’s unique hybrid learning model comes to life. In service since 2018, the project has a view from its atrium of the large construction site across the street – the new George Lucas Museum. PCSD contributed to creating spaces that blend in-person and digital learning, equipping students with skills for today’s evolving world.

Partner Highlights

This tour wouldn’t have been possible without the strong turnout from our partners, including Capital Impact Partners, US Bank, LISC, BlueHub Capital, ExED, LIIF, Chase Bank, and NFF. Their support is critical to our work in expanding educational access in under-resourced communities.

Reflections from the Road

A great opportunity to connect and celebrate our shared successes, we’re thrilled to have had the chance to showcase the work we’re doing and look forward to more milestones to come. Thank you to everyone who joined us on this journey!

CWC Silverlake MS
CWC Silverlake MS
Equitas 5/6
Ednovate Hybrid High
Ednovate Hybrid High

Learning About Design

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Who did you meet with today?

Today we met with Keivan Abidi and Cyrus Amani.

Where do they work? What does the company do?

Keivan and Cyrus work for Pacific Charter School Development and LCA Architects respectively. LCA is a company that designs modular buildings for commercial and industrial buildings such as Lighthouse.

What did you learn today? What were some highlights?

Some of the things we learned today were the step-by-step process of the creation of the think tank classroom, from how the floor plan was created in 3D before building them in the classroom to avoid conflicts and save time. We also learned on how they connected all the electrical wiring that the think tank space would need to become an actual classroom space.

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

Some great insights that we learned from this field of real estate development is that there are many different elements that come together when creating a modular building in a space like the one that was made in our campus, from planning to creating it in 2D then sending in the plans to get them approved not only by the clients but the city, then building it in the time frame that was given to them.

What did you find the most interesting about the field after today?

The most interesting thing that I learned from this specific field that it is easier and shorter to create a modular building inside another building than to build new buildings from the ground up.

Learning about design with Keivan and Cyrus
Seeing design in action
Touring Lighthouse with Keivan, Jennifer, and Cyrus

The Importance of Due Diligence in Pre-Construction and Pre-Development

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Who did you meet with today?

Today we had the opportunity to meet with Mary Grace Houlihan.

Where do they work? What does the company do?

Mary Grace works with Pacific Charter School Development, a nonprofit organization that supports charter schools in finding affordable, quality facilities through site acquisition, project management, and financing. The mission of the organization is to break the systemic inequality in education by scaling educational opportunities for students in communities that have been under-resourced.

What did you learn today? What were some highlights?

Today I was enlightened by the work of the crucial thoughts and necessities that come with work in architecture for public schools. I was also shown the process which makes these plans more realistic and attainable. Processes, such as construction modifications to public schools or other state-funded buildings, are reviewed to ensure specifications and other modifications comply with California’s codes, like Title 24 of the California Code of Regulations. Especially for public schools, DSA ensures the modifications follow the rules of California codes to comply with structural safety as well as things such as fire and life safety and even accessibility and sustainability.

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

This opportunity has opened my mind to the complexity of California codes. I was not aware of this complexity and the effect it had on how buildings are constructed and modified and how the rules and regulations limit the opportunity of other modifications due to it having to pass the review of safety issues and other essential rules. This also informs me of the complexity of public schools being built due to having to undergo a lot of restrictions in order to ensure safety of children.

What did you find the most interesting about the field after today?

Many times, we see rules as a limit to your brain creativity, but something I found most interesting is in the way it opens my mind to new ideas that can not only follow the rules and regulations of the California codes but still live up to the expectations of creativity and how it all comes to life. I also enjoyed being able to discover the full process that goes before construction and development because most people don’t see the behind the scenes of how buildings are made. Finally, I appreciated the opportunity I was given to see the creation process and the vision of how modifications can be created in real life just as visualized in one’s mind.

Getting ready for our virtual session
Learning about what you need to get started
Looking at a case study with BayTech High
More details on BayTech High

An Afternoon with Colliers, PCSD Intern Edition

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Who did you meet with today?

Today we met with Tony Burnett, Rebecca Scalfaro, Amber Merrigan, Morgan Parker, Halli Floyd, Gregory Hunter, and Shayla Mellenthin from Colliers and Joyce Cunningham from Cushman Wakefield.

Where do they work? What does the company do?

They work for Colliers International Real Estate, in the Downtown Oakland firm. The company focuses primarily on helping buy, lease or sell apartments and commercial real estate properties with a limited amount of retail properties. Colliers also provides appraising and property management services.

What did you learn today? What were some highlights?

Today we learned about Colliers and what it did along with the process of evaluating a construction site for what could potentially become a school. A highlight was when we visited a site that will soon become a parking lot for a school.

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

We received insight about property zoning done by the city and how it impacts what sort of things you can do with that property/land. We also learned that industrial/commercial properties often make great spots for school construction projects.

What did you find the most interesting about the field in the field after today?

What I found most interesting about today, was the fact that the site we visited was initially going to be an extension to another school but due to various reasons, it only became a parking lot for the school. I was also very interested in Mr. Gregory’s knowledge of how the Google building at NASA Ames came to be, due to receiving a public investment because it was a global company.

Photo Credit: Alejandra Arias, Fall Intern

The Colliers team with PCSD interns and staff.
PCSD Fall Interns at Colliers
Internship with a view
Discussing the site
Figuring out the measurements on a site

Empowering Charter Schools through Credit Enhancement: PCSD Supports Our Partners with $20M Award

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In September 2023, the U.S. Department of Education awarded PCSD a significant $20 million in credit enhancement funds. This grant is more than just a financial boost; it’s a strategic tool that helps us expand educational opportunities for students in under-resourced communities by making facility financing more accessible to charter schools.

Why Credit Enhancement Matters

Credit enhancement is essential in the charter school facilities sector, where access to traditional financing can be a significant barrier. Many lenders hesitate to offer loans to charter schools due to perceived risks and the unique nature of these institutions. By providing a debt service reserve—essentially a safety net that ensures a portion of the loan payments is covered—credit enhancement lowers the risk for lenders and makes them more willing to invest in these transformative projects.

Supporting Our Partners

We’ve already put these funds to work, directly supporting several of our key partners:

  1. RYSS STEM Academy Pasadena (TX): We provided debt service reserve for the Raul Yzaguirre Schools for Success (RYSS) STEM Academy Pasadena facility project. This support was crucial as it reduced the financial risk for the lender in a complex financing structure for a brand new school who might otherwise be unwilling to fund such a critical educational space.
  2. CWC West Valley (CA): In Los Angeles, we extended debt service reserve to support the financing and development of CWC West Valley. The lender was already supporting other CWC schools and reaching the edge of its concentration limits, and PCSD’s pledge of credit enhancement was critical in providing a level of assurance to get the loan closed. The affordable financing sourced by PCSD not only facilitates smoother financial operations but also helps the school focus on its mission to deliver high-quality education without the constant worry of financial constraints.
  3. UP Excellence (TX): We provided debt service reserve for UP Excellence, a newly authorized charter school in Houston that welcomed its first cohort of students this Fall. Without a track record of enrollment and academic outcomes to measure, new start-ups are especially challenged in acquiring financing. PCSD’s pledge of credit enhancement provided the assurance needed for the lender to close financing so that improvements could be completed in time for the new school year, ensuring the school had a welcoming space for its inaugural students and the stability needed to establish itself and thrive in its early years.

Making a Difference

Our credit enhancement program plays a pivotal role in bringing high-quality educational facilities to life. By mitigating financial risk for lenders, we unlock doors that were previously closed, allowing more students to learn in environments designed to support their success.

This $20 million award is a testament to the trust and confidence placed in PCSD’s ability to create lasting change. We’re excited to continue leveraging these funds to support our partners and, ultimately, to build a more equitable educational landscape for all.

For more information on the award and how we’re using it to support our partners, read more here.

TCSD Presents at 2024 TPCSA Conference

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TCSD is presenting at the 2024 TPCSA Conference in San Antonio, Texas.

Education Session:

Facility Solutions for Charter School Operators
October 21, 2024 | 1:45 pm – 2:45 pm

School leaders cite facilities’ challenges as a primary barrier to the success of a school. The process is often lengthy, risky, and emotional, which drains capacity and can lead to high turnover. Operators often have limited access to the support and guidance that they need. Hear from a school, a financial expert, and a developer about lessons learned from the field. This session will focus on what facilities solutions are available, what steps an operator should take, and how they can partner with the right team.  We will use a case study from a charter school to walk through the process.

At the end of the session, participants will have a clearer understanding of the following:

  1. Exploring Diverse Facilities Solutions: Discover a range of solutions tailored to address your school’s unique needs and circumstances.
  2. Demystifying Financing and Affordability: Gain clarity on financing options and strategies to ensure long-term financial sustainability.
  3. Embracing Flexibility and Problem-Solving: Cultivate adaptable problem-solving skills, recognizing the importance of exploring multiple options for success.

Presenters:

  • Eric Kot, Executive Director, Texas
  • Ivan Zapata, Project Director, Texas
  • Anna Johnson, Director of Finance
  • Memry Bender, Dean of Operations, Elevate Collegiate Charter School

Read here to learn more about the TPCSA Conference.