Cristo Rey Philadelphia

Philadelphia,
PA
(2017)

Cristo Rey Philadelphia

Community, Private School, Religious Organizations, Schools

This private high school opened in 2012 through a unique partnership of local educators, businesses, and universities.

Investment

NMTC Amount: $31,925,000
Total Project Cost: $33,043,622

IMPACT

10 FTE jobs
480 construction jobs
90,000 sq. ft. of real estate

CDEs

Chase, City First, PIDC Community Capital, Telesis CDE Corporation

Investor

Chase

Project Description

This private high school opened in 2012 through a unique partnership of local educators, businesses, and universities. Their mission is to provide a world-class, private education to low-income students in 9th through 12th grade. At Cristo Rey Philadelphia, every student works five days per month in a real job, for real wages. Jobs accelerate the students’ development, and their wages fund approximately 60 percent of the cost of their education. In June 2016, the first class of Cristo Rey students in Philadelphia graduated, and 100 percent of them were accepted into a four-year college and celebrate during their annual “signing day” event. City First allocated $10,000,000 in New Markets Tax Credits to Cristo Rey Philadelphia for the relocation and construction of a new, 90,000 sq. ft. school.

MAP

Address: 1711 West Allegheny Avenue, Philadelphia, PA 19141

Census Tract: 42101020101

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