Alma del Mar Charter School

Demolition of 100 year old school building, construction of new school building.

Investment

  • NMTC Amount: $14,510,000
  • Total Project Cost: $16,252,650

IMPACT

  • 20 FTE jobs
  • 88 construction jobs
  • 39,000 sq. ft. of real estate

Investor

Project Description

Demolition of 100 year old school building, construction of new school building. Alma del Mar is a Massachusetts charter school located in New Bedford since 2011. Its mission is to send all of its scholars to college without exception. Despite having a student body that is 79% low-income Alma del Mar maintains high expectations and provides support for students and families in order to set each scholar on the path to college. Its highly successful program has created strong pressures to grow and it is seeking to increase its enrollment from 240 currently to 450 by 2020. To accommodate this growth, it is planning on acquiring its leased site from the City of New Bedford, demolishing the existing building, and constructing a 39,000 sq. ft. school building.

MAP

Address: 26 Madeira Avenue, New Bedford, MA 2746

Census Tract: 25005650600

Other Massachusetts Projects

Apex Resource Technologies received an infusion of $5 million, giving the company the working capital needed to expand its business and workforce.

Project entails the renovation of a 2-story, ~28,500 sq. ft. commercial warehouse building located at 70-80 Church Street, Lowell, MA into a Woodworking Social Enterprise center for UTEC, Inc. (~12,800

NMTC financing transforms a contaminated site into a sparkling new community facility.
The $12 million overhaul of a historic site that has called North Street home for over a hundred years for a YMCA.