KIPP Impact and KIPP Voice

Austin, TX (2013)

Tthe adaptive reuse of a defunct greyhound racetrack on a 15-acre site in a severely distressed census tract

COMMUNITY IMPACT
  • 26 FTE jobs
  • 25 construction jobs
FINANCING SOURCES
  • NMTC Amount: $7,840,000
  • Total Project Cost: $15,000,000
  • CDE(s): Pacesetter
PROJECT LOCATION

901 Congress Avenue

Austin, TX 78701

District:

Project Description

Project Description: In 2010, KIPP Jacksonville undertook a multi-phase plan to develop a high quality educational campus in a highly distressed community. A $27 million NMTC transaction funded the adaptive reuse of a defunct greyhound racetrack on a 15-acre site in a severely distressed census tract. The property and 150,000 SF clubhouse were converted into a 37-classroom campus for KIPP Impact and KIPP VOICE, transforming what had been a neighborhood eyesore. An indoor gymnasium was subsequently completed earlier in 2014 as a result of avoided debt burden achieved by the NMTC. The Project is now the final phase of the campus, resulting in the new construction of an approximately 75,000 SF building that houses two elementary schools serving 1,000 children across grades K-4. The building has approximately 46 classrooms, a cafeteria, an outdoor (all-weather) gymnasium, and playgrounds. As KIPP believes in managing schools size for economic scale as well as teaching effectiveness, the project includes two elementary schools
to meet student demand, each with 500 seats. The two schools opened in 2015 and 2017. Admission preference is given to siblings of current students, and then to students residing in an 8-9 mile radius around the school in the North and Westside of Jacksonville.

Community Benefits: The Project creates 86 FTE jobs: Principal, vice principals, 68 teachers, paraprofessionals, operations manager, and administrative staff. On average, teacher’s targeted compensation is approximately $45,000 annually plus benefits including health, dental and retirement. Paraprofessionals and administrative staff make approximately $25,000 annually with benefits. In addition, approximately 26 full and part time positions is now outsourced (12 custodial and maintenance and cafeteria staff and 14 bus drivers), which will result in employment for local LIC residents.

  • Community| Historic Rehabilitation| Schools

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