Explore! Community School
LIIF provided $17.5 million in total financing for the expansion of Explore! Community School, to serve 850 students in grades K-8. Explore! is part of a larger community redevelopment in Nashville spearheaded by the Metropolitan Development and Housing Agency. Once complete, the redevelopment will include 2,400 housing units (one-for-one replacement of 700 public housing units) along with new affordable, workforce and market-rate housing. The plan also includes 11 acres of active green space and amenities such as a new health center, pharmacy, grocery store, school, library and retail.
Explore! Community School is operated by the Martha O’Bryan Center, an anti-poverty nonprofit with more than 120 years in operation in the Nashville community. The school is located in a highly distressed census tract with a poverty rate of 78%, median income of 16% and unemployment rate of 29%.
- 850 students served
87,0000 square feet of school space improved
- $12.5 million New Markets Tax Credits
$5 million leverage source loan through LIIF’s $50 million Tennessee Charter Facility Pilot
- Nonprofit Finance Fund
- The Reinvestment Fund