Cristo Rey St. Martin College Prep Phase 2

Waukegan,
IL
(2020)

Cristo Rey St. Martin College Prep Phase 2

Community, Makerspace, Private School, Recreation, Religious Organizations, Retail, Retail and Commercial, Schools, Theaters and Performing Arts Spaces

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

CDEs

Enhanced Capital

Investor

Unknown

NMTC financing supported 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.

The 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.
The 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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