San Jose, CA (2011)

Rocketship Discovery Prep

LIIF provided Launchpad Development Company with NMTC financing for the development for Rocketship Discovery Prep in San Jose, California.

Investment

  • NMTC Amount: $10,185,000
  • Total Project Cost: $10,185,000

IMPACT

  • 27 FTE jobs
  • 50 construction jobs

Investor

Project Description

LIIF provided Launchpad Development Company with NMTC financing for the development for Rocketship Discovery Prep in San Jose, California. The new school will serve K-5th grade students in the city’s Five Wounds/Brookwood Terrace neighborhood. Ninety percent of the local elementary school students qualify for free or reduced price lunch programs. Rocketship Education is an award-winning nonprofit elementary charter school network dedicated to eliminating the achievement gap for low-income students. The organization currently operates three successful elementary schools that serve nearly 1,000 students using a unique hybrid model that combines the standard classroom model with online instruction to create high-performing and cost-effective schools. The NMTC transaction enabled Launchpad to purchase an industrial storage yard which it will develop into a new school.

MAP

370 WOOSTER Avenue, San Jose, CA 95116

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