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Pacific Charter School Development

Pacific Charter School Development

Expanding educational opportunities for students in under-resourced communities

  • WHO WE ARE
    • Our Approach
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    • Board of Directors
    • Team
  • WHAT WE DO
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Blog

PCSD Attends LA Promise Material Arts Career Fair

October 13, 2023 by PCSD

PCSD had an amazing time at LA Promise’s Material Arts Career Fair! Our team was thrilled to meet with high school students and introduce them to the exciting world of real estate development.

We had some great conversations about the diverse career opportunities within our industry, and we’re so impressed by the curiosity and passion of these young minds.

Huge thanks to all who visited our booth and helped make this event a resounding success. We look forward to continuing to nurture the next generation of real estate professionals and inspiring their dreams.

Kahlmus and Mera speaking to students
The PCSD table
Kahlmus and Mera ready to greet students

Filed Under: Blog

A Landmark Moment for Voices Academies: Groundbreaking at the New Morgan Hill Campus

October 12, 2023 by PCSD

At Pacific Charter School Development, we are thrilled to have participated in the recent groundbreaking ceremony held by Voices College-Bound Language Academies. This event marked a significant milestone for Voices, a network of public charter schools dedicated to serving primarily Latino communities in Santa Clara, Contra Costa, and San Joaquin counties. The ceremony took place at the construction site of their new Morgan Hill campus, a project that signifies much more than just bricks and mortar for this community.

Voices College-Bound Language Academies was founded by educator Frances Teso in 2007. Its mission is to prepare all students for higher education while fostering pride in their cultural heritage. This dedication to academic excellence and equity has made Voices a beacon of hope for many families in the region.

On September 30, Voices celebrated a “landmark moment” at the construction site of their future Morgan Hill campus. The event, attended by city officials including Morgan Hill Mayor Mark Turner, community leaders, families and supporters, underlined the importance of this new venture. The Morgan Hill campus will be Voices’ first owned campus, and it represents a significant step in securing the organization’s legacy for years to come.

The vision behind the new Voices Morgan Hill campus is more than just new buildings. Aldo Ramírez, the CEO of Voices College-Bound Language Academies, captured the essence of this project when he stated, “Voices is more than a collection of schools—we are a familia united in our shared commitments to excellence, equity, and fostering a love for learning.” The new campus demonstrates the powerful strength of the community that supports Voices, and it is a symbol of what can be achieved together, not only in the present but also for future generations.

The Morgan Hill campus will serve students from TK to 8th grade, offering 18 new classrooms, an outdoor covered lunch area, a quiet garden, and two playgrounds. The construction of this campus began last month after several years of planning, advocacy, and community partnerships.

At Pacific Charter School Development, we are honored to be a part of this project for Voices College-Bound Language Academies. We share their commitment to academic rigor, cultural pride, and educational excellence. This new campus in Morgan Hill symbolizes a brighter future for the students and families it will serve, and it stands as a testament to the power of collaboration and community spirit. We eagerly anticipate the positive impact this campus will have on students, families, and the community as a whole. It is indeed a landmark moment, and we look forward to witnessing the transformative journey that Voices is embarking on.

Filed Under: Blog

Elevate Collegiate and TCSD Celebrate Long-Term Space for Greater Third Ward Scholars 

October 2, 2023 by PCSD

Elevate Collegiate Charter School and Texas Charter School Development Celebrate Long-Term Space for Greater Third Ward Scholars 

Houston, Texas, September 28, 2023 – Elevate Collegiate Charter School and Texas Charter School Development hosted a Ribbon Cutting Ceremony in Elevate’s new home at St. James Episcopal Church (3129 Southmore Blvd). The 35-year lease allows the school to grow and house its PK through 5th-grade students in a place with extensive community history. Fourth grade students greeted elected officials, and community leaders to celebrate the completion of Phase 1 of the renovation. Council Member David Robinson was in attendance and congratulated the school on its new home. Immediately following the cutting of the ribbon, attendees had an opportunity to tour the school led by the school’s Founder, Rebecca Francis-Jones. 

“St. James Episcopal Church has been a beacon in our community for over 75 years and we are glad to provide a safe learning space for our community’s children. We look forward to seeing them flourish into Houston’s future leaders,” expressed Reverend Thomas, St. James’ Rector.  

For the past 5 years, Elevate Collegiate has co-located with another charter school and has outgrown the space. In 2022, Texas Charter School Development started its work in Houston and partnered with Elevate Collegiate’s Founder Rebecca Francis-Jones.

“We create long-term facilities solutions that expand educational opportunities in under-resourced communities. Elevate’s work in the Greater Third Ward community is inspiring, and our team is committed to solving their facility challenges while they focus on educating Houston’s children,” said TCSD’s CEO, John Sun.

Since 2019, Elevate Collegiate has served students from the Greater Third Ward area, but with Houston’s growth and development, it has been difficult to find a place that was available and move-in ready for the school. 

TCSD believes that every child deserves a safe and inspiring learning environment, which drives their work. Over the last year, TCSD’s team has worked with numerous vendors to secure the lease, renovate the space, and pass City of Houston inspections. TCSD provided an investment of $2,000,000 which was secured through various funding sources, including support from Charter School Growth Fund.

The work continues with Phase 2 throughout the next year where 12 classrooms, offices, and the cafetorium will be prepared to house the entire school. Once completed the campus will have seats for 472 students. Elevate Collegiate and TCSD are investing in the future of its Greater Third Ward Scholars.

“Working with TCSD has been seamless and it feels like they are an extension of my team. They have worked through so many challenges to get our PreK through 2nd Grade spaces ready for this year, and I look forward to the completion of Phase 2 when I’ll have all of my students on the new campus,” said Francis-Jones. 

 

About Texas Charter School Development

Texas Charter School Development (TCSD) is a non-profit, full-service real estate development firm. It offers an array of services tailored to meet the unique needs and goals of each of our charter school partners.

About Elevate Collegiate Charter School

Elevate Collegiate Charter School equips all students with the academic knowledge and character development necessary to set forth confidently on the path to college and a life filled with opportunity. Elevate Collegiate empowers, educates, and elevates students in grades PK through 5th. 

TCSD team standing in front of Elevate campus
Ms. Jones cuts ribbon with community
Ms. Jones leading tour of campus

Filed Under: Blog

CharterNation Podcast: John Sun Discusses Charter School Facilities

October 2, 2023 by PCSD

Finding a permanent school facility is the dream of many charter school leaders in California. But the lack of affordable real estate, the lack of space in big cities, and certain school authorizers can make finding a site extremely difficult. Pacific Charter School Development, a nonprofit real estate development firm, helps solve that problem. PCSD’s CEO John Sun offer his expertise. John’s interview is followed by a profile on charter school leader, Robert Golden, who is building a new state-of-the-art school facility for Golden Charter School Academy with the help of PCSD.

Tune in here to listen! John’s interview begins at 20:41.

Filed Under: Blog

PCSD Receives $20 Million Award from the U.S. Department of Education for Credit Enhancement

October 2, 2023 by PCSD

Pacific Charter School Development Receives $20 Million Award from the U.S. Department of Education for Credit Enhancement

Los Angeles, California, September 29, 2023 — Pacific Charter School Development (PCSD), a non-profit organization committed to addressing educational inequality, is proud to announce the receipt of a $20 million award from the U.S. Department of Education’s Credit Enhancement for Charter School Facilities Program for 2023. This significant award will further PCSD’s mission to empower charter schools and create sustainable educational facilities in under-resourced communities across California, Texas, and Washington.

PCSD’s overarching goal is to demonstrate how their innovative model, which includes partnering with philanthropic and mission-minded investors, can expand the lending market for early-stage and expanding schools. By leveraging this award, PCSD seeks to significantly impact the charter school community and provide equal educational opportunities to students in underserved communities.

The award, administered through the U.S. Department of Education’s Credit Enhancement for Charter School Facilities Program, marks a pivotal moment in PCSD’s journey to transform education in underserved areas. With this award, PCSD aims to strengthen charter school facilities and expand educational opportunities for students who need it most.

The $20 million award from the U.S. Department of Education will be instrumental in PCSD’s ongoing efforts to create educational facilities that are financially sustainable. The award will be allocated to two primary strategies:

1. $12 Million Loan Loss Reserve: This reserve will be leveraged with $35 million of PCSD’s equity to raise a total of $40 million in commercial debt with advantageous terms. This initiative will establish the $75 million Pacific Charter Facility Fund (PCFF), dedicated to providing low-cost capital for the development of new charter school facilities.

2. $8 Million Debt Service Reserve: Designed to increase charter schools’ access to financing, this reserve will incentivize lenders to offer financing, especially to early-stage schools, with terms that they can afford.

Through the PCFF, PCSD is committed to supporting a minimum of 15 school facility projects within the first five years of the award, including 10 early-stage or expanding schools and 5 replicating schools. The organization plans to leverage a remarkable 25:1 Debt Reserve to senior debt ratio to secure financing with affordable terms for at least 10 school facility projects.

“We are deeply honored to receive this award from the U.S. Department of Education,” said John Sun, CEO of PCSD. “This funding will not only transform the landscape of charter school facilities but also empower countless students with access to high-quality education. We are grateful for the Department of Education’s support in our mission to dismantle systemic inequality in education.”

About Pacific Charter School Development
Pacific Charter School Development (PCSD) is a non-profit, full-service real estate development firm. It offers an array of services tailored to meet the unique needs and goals of each of our charter school partners. During our nearly 20-year history, PCSD has secured more than $1.09 billion in financing for school development projects, benefiting more than 120 schools and serving over 49,000 students in under-resourced communities in California, Massachusetts, Washington, and Texas. For more information, visit Pacific Charter School Development.

 

Filed Under: Blog

PCSD Interns: Unlocking the World of Real Estate and Commercial Lending: A Journey with City National Bank

August 4, 2023 by PCSD

Real estate is an all-encompassing industry that impacts our daily lives in numerous ways. From the places we work and shop to the homes we live in, real estate plays a vital role in shaping our communities. Recently, our interns had the opportunity to meet with Dena Harte, Cindy Cindrich, and Simon Wu from City National Bank. This encounter opened our eyes to the intricacies of commercial lending and the fascinating world of real estate. In this blog post, we’ll take you on the same journey we experienced, exploring the valuable insights and lessons we gained from our meeting with these seasoned professionals.

Dena Harte: A Wealth of Experience in Commercial Banking

Our journey began with Dena Harte, an expert with an impressive 20-year tenure at City National Bank. She specializes in working with nonprofit organizations and for-profit corporations, managing deposits and endowments. Her vast experience and keen understanding of the commercial banking landscape made her an invaluable resource throughout our discussions.

Cindy Cindrich and Simon Wu: Unveiling the World of Real Estate

Cindy Cindrich, a veteran with 24 years of experience, and Simon Wu, work in City National Bank’s commercial lending site. Their expertise lies in the income property group, where they navigate the complexities of real estate lending. During our meeting, Cindy and Simon delivered an engaging and dynamic presentation on the diverse aspects of real estate.

Understanding Real Estate: A Comprehensive Overview

Cindy and Simon began our session by shedding light on the diverse facets of real estate. From retail spaces like malls and power centers to various office types, multi-family properties, industrial spaces, and special-use facilities, the scope of real estate is vast and varied. Each category has its own set of advantages and disadvantages, which they elaborated on, giving us a comprehensive understanding of the market.

The Role of Lenders: Unveiling the Lending Process

One of the most insightful aspects of our meeting was when Cindy and Simon walked us through the lending process from the perspective of City National Bank. They explained what lenders look for when considering loan applications. To demonstrate this, they role-played a scenario in which Simon presented a facility to the bank seeking a loan, while Cindy posed challenging questions to assess the feasibility of the loan.

Lessons Learned: The Complexity of Real Estate Investment

Through this interactive session, we came to realize that securing a loan for real estate investment is no simple task. The intricate web of factors to consider, including competition, local businesses, location, occupancy rates, and more, requires meticulous evaluation. It was evident that thoughtful planning and thorough research are essential before embarking on any real estate venture.

Fueled by Passion: A New Interest in Real Estate

As our meeting concluded, we found ourselves captivated by the world of real estate and commercial lending. The knowledge shared by Dena, Cindy, and Simon ignited a newfound interest in many of us to explore this field further. The interns even expressed their desire to pursue careers or investment opportunities in real estate, driven by the allure of its challenges and rewards.

Our meeting with Dena Harte, Cindy Cindrich, and Simon Wu from City National Bank was an enlightening experience that broadened our horizons and deepened our understanding of real estate and commercial lending. We learned that the world of real estate is multifaceted and that securing loans for such investments requires careful consideration of various factors. The passion and expertise of these professionals inspired us to explore this industry further, and we look forward to unlocking more doors of opportunity in the fascinating world of real estate.

Filed Under: Blog Tagged With: commercial bank, commercial lending, internships

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Pacific Charter School Development

PCSD's mission is to dismantle systemic inequality in education by expanding educational opportunities for students in under-resourced communities.

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Oakland, CA 94607

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401 Franklin, Ste 2400-107
Houston, TX 77201

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Pacific Charter School Development
  • WHO WE ARE
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    • Board of Directors
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  • WORK WITH US
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    • Internship Program
    • Careers
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