New Markets Tax Credit Coalition

  • Bronx,
  • NY
  • (2011)

Bronx Lighthouse Academy

District: Ritchie Torres (D-NY15)

Through a partnership with JPMorgan Chase, LIIF provided Bronx Lighthouse Charter School NMTC financing to build a new high school in the South Bronx.

Investment

  • NMTC Amount: $14,065,000
  • Total Project Cost: $14,945,000

IMPACT

  • 6 FTE jobs
  • 73 construction jobs
  • 30,000 sq. ft. of real estate

CDEs

Investor

Project Description

Through a partnership with JPMorgan Chase, LIIF provided Bronx Lighthouse Charter School (Bronx Lighthouse) with a NMTC allocation and a subordinate leverage loan to build a new high school in the South Bronx. JPMorgan Chase also provided a senior leverage loan to support the school. Bronx Lighthouse is a six-year-old, high-performing charter school operating in one of the poorest neighborhoods in New York City. The NMTC transaction will enable Bronx Lighthouse to build a new 30,000 sq. ft. high school campus, adjacent to the school’s current K-8th grade campus in the South Bronx. The school currently serves 460 students and will grow to 640 students upon completion of the new high school. Over 85% of its students are eligible for free or reduced-fee lunch. This transaction is part of a partnership with JPMorgan Chase to invest $30 million in high-performing charter schools.

External Profile

MAP

Address: 1005 Intervale Avenue, Bronx, NY 10459

Census Tract: 36005012901

Missing information? Submit an update or correction.

Other New York Projects

Chobani
  • New Berlin,
  • NY
  • (2011)
  • CDE(s): Bank of America, CDF Development (Cordish), Dudley Ventures, Ecotrust, Empire State Development Corporation, Solomon Hess SBA Loan Fund
The renovation and equipping of a 70,000 sq. ft. facility in New Berlin, a highly distressed rural part of upstate New York.
Learn more..
Healthview CBWCHC
  • Flushing,
  • (2020)
  • CDE(s): NYCR-CDE
The construction of a new Federally Qualified Health Center that will serve as a primary care access point that provides medical, dental, mental health and enabling services to a severely
Learn more..
Alstom Transportation
  • Hornell,
  • NY
  • (2021)
  • CDE(s): Bluehub, Chase, Community Development Venture Capital Alliance, Hampton Roads Ventures, Local Initiatives Support Corporation, Rural Development Partners
RDP allocated $10M in NMTCs to help Alstom expand their specialized manufacturing equipment line to rural America, and continue investing in Hornell (NY) as a key long-term U.S.
Learn more..
Livingston Buildings Rehab Phase 1
  • Poughkeepsie,
  • NY
  • (2009)
  • CDE(s): Key Bank
Phase 1 of the Livingston Buildings historic rehabilitation created a mixed-use structure.
Learn more..