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Exploring the World of Real Estate Development with PCSD

July 2, 2024 by PCSD

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.

The team gathered by the playground at EQ 5/6

TCSD Launches Charter School Incubator

July 1, 2024 by PCSD

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

July 1, 2024 by PCSD

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.

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

June 2, 2024 by PCSD

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!

PCSD closes NMTC loan for Tejano Center

March 27, 2024 by PCSD

PCSD is thrilled to announce that we have closed New Markets Tax Credit (NMTC) financing for the Tejano Center for Community Concerns to purchase and renovate a site for the Raul Yzaguirre Schools for Success (RYSS) STEM Academy in Pasadena, Texas. RYSS already operates its early education program on a portion of the almost 12 acre site with full classes for pre-kindergarten through 2nd grades and 5th grades to be added for the Fall of 2024. Eventually, the campus will encompass PreK-8th grade with classrooms to accommodate approximately 760 students and other community services.

PCSD also provided some of its $20M credit enhancement award from the Department of Education toward the project. According to PCSD’s Vice President of Project Finance, Tina Lin, “this worthy project was the result of many valued partners like Raza Development Fund, Chase Community Equity, Sunflower Bank and Equitable Facilities Fund coming together to support Tejano Center’s long-serving and important community mission.”

Exploring Educational Excellence: A Tour of CWC LA Charter Schools

March 25, 2024 by PCSD

PCSD had an exciting opportunity to tour one of our charter school partners in Los Angeles alongside many of our CDFI lending partners. Our itinerary included stops at three campuses of Citizens of the World Los Angeles (CWC LA): CWC West Valley, CWC Mar Vista, and CWC Silver Lake Middle School.

The tour was an immersive experience delving into the heart of the CWC LA model. Each visit provided us with a comprehensive understanding of the educational ecosystem found within these campuses. From state-of-the-art facilities to innovative teaching methodologies, we witnessed firsthand the dedication to excellence that defines the CWC approach.

Our time at each school was enriched by engaging presentations and enlightening conversations with school principals and students alike. We had the privilege of hearing directly from the individuals who shape and benefit from the educational environment fostered by CWC LA.

However, it was the moments spent listening to the students articulate their personal experiences with CWC that truly resonated with us. Their impassioned testimonials painted a vivid picture of the profound impact that CWC has had on their lives. From fostering a sense of belonging to igniting a passion for learning, it was evident that CWC represents far more than just an educational institution—it’s a community where students thrive and dreams take flight.

As advocates for educational equity and opportunity, our partnership with CWC LA reaffirms our commitment to dismantling systemic barriers and empowering students in under-resourced communities. The insights gained from this tour will undoubtedly inform our ongoing efforts to support and uplift the next generation of leaders.

Our tour of CWC LA charter schools was not just a journey through hallways and classrooms; it was a profound exploration of educational excellence and the transformative power of inclusive education. We extend our heartfelt gratitude to CWC LA for opening their doors to us and their lending partners and for the invaluable work they do every day to inspire and empower students. Together, we will continue to strive towards a future where every child has access to quality education and the opportunity to reach their full potential.