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Waukegan, IL (2020)

Cristo Rey St. Martin College Prep Phase 2

Development of 47,000 sq. ft. of unused retail space into a Fine Arts Makerspace, a Performance Stage, a Gym/Fitness Center and additional classrooms for a high school.

Investment

  • NMTC Amount: $18,500,000
  • Total Project Cost: $18,500,000

IMPACT

  • 10 FTE jobs
  • 22 construction jobs
  • 47,000 sq. ft. of real estate

Investor

Project Description

Development of 47,000 sq. ft. of unused retail space into a Fine Arts Makerspace, a Performance Stage, a Gym/Fitness Center and additional classrooms for a high school. Project will expand capacity for the school’s college readiness programs while expanding resources for extracurricular enrichment programs. • Cristo Rey St. Martin (CRSM) was founded in 2004 as a part of the Cristo Rey network of 35 high schools which serve 12,000 low-income students in 22 states. CRSM does not require an entrance exam or a specific GPA; their only admissions qualifier is that students must be low-income and they do show preference to first-generation potential college students. • Project is located in the Waukegan/North Chicago Enterprise Zone. The area’s poverty rate is 24.2% and their unemployment rate in 149x the national average. • Waukegan Mayor Sam Cunningham stated the CRSM redevelopment was “an important catalyst to attract and retain more development and investment” in this community.

MAP

Address: 3106 Belvidere Road, Waukegan, IL 60085

Census Tract: 17097862604

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