Bronx Lighthouse Charter School
Through a partnership with JPMorgan Chase, LIIF provided Bronx Lighthouse Charter School (Bronx Lighthouse) with a New Markets Tax Credit (NMTC) allocation and a subordinate leverage loan to build a new high school in the South Bronx. JPMorgan Chase also provided a senior leverage loan to support the school. Bronx Lighthouse is a six-year-old, high-performing charter school operating in one of the poorest neighborhoods in New York City. The NMTC transaction will enable Bronx Lighthouse to build a new 30,000-square-foot high school campus, adjacent to the school’s current K-8th grade campus in the South Bronx. The school currently serves 460 students and will grow to 640 students upon completion of the new high school. Over 85% of its students are eligible for free or reduced-fee lunch. This transaction is part of a partnership with JPMorgan Chase to invest $30 million in high-performing charter schools.
Project Details
- Impact
- 180 students served
30,000 square feet of new school space - Financing
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$14.5 million New Markets Tax Credit allocation with JPMorgan Chase
$3.2 million leveraged loan - Partners
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- JPMorgan Chase
More Information
Our Education Program
Community Capital for Education
New Markets Tax Credits
