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Paterson, NJ (2022)

Philips Academy

Development of a 63,000 sq. ft. school facility

Investment

  • NMTC Amount: $14,900,000
  • Total Project Cost: $37,873,099

IMPACT

  • 25 FTE jobs
  • 38 construction jobs
  • The project also retains a total of 92 existing jobs. 675 students will be served by the new school.
  • 62,341 sq. ft. of real estate

Investor

Project Description

Acquisition and development of a 63,000 sq. ft. charter school facility. The facility will include 29,000 sq. ft. of core educational space, including 35 K-8 classrooms and 13 specialty rooms (including labs and breakout rooms), 8,350 SF of amenity space including music and arts spaces, 17 administrative offices, a 4,500 sq. ft. cafeteria, and a 5,200 sq. ft. gymnasium. Philip’s Academy is currently spread across two campuses in the city of Paterson and wants to combine that enrollment at a single location that will also support targeted growth.

MAP

Address: 102 Madison Avenue, Paterson, NJ 7524

Census Tract:

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