Featured:

Rocketship Discovery Prep

San Jose, CA (2011)

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

COMMUNITY IMPACT
  • 27 FTE jobs
  • 50 construction jobs
FINANCING SOURCES
  • NMTC amount: $10,185,000
  • Total Project Costs: $10,185,000
  • CDE: Low Income Investment Fund
PROJECT LOCATION

370 WOOSTER Avenue

San Jose, CA 95116

Project Description

LIIF provided Launchpad Development Company with New Markets Tax Credit (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.

Community

Schools

Youth and Families