Today, we closed an $8,000,000 New Markets Tax Credit Allocation to Esperanza Academy in Lawrence, MA to support the development of a new 31,500 square foot school to improve education access for low-income girls!
The academy's expanded classroom space will allow Esperanza to add a Lower School for Kindergarten through 4th grade students, expanding their existing 5th-8th grade Middle School. The new development will feature 13 classrooms, a state-of-the-art laboratory and engineering makerspace to expand STEM curriculum, and a Wellness Center to expand music and art therapy services.
In addition to academic space, the development also includes a new community kitchen for healthy foods-focused programs, a bodega to offer no-cost essential household items, and a new graduate success center to expand support programs for alumni. This project will create 15 new quality jobs while retaining 27 full-time existing positions.
Thank you so much to Capital One and The Community Builders, Inc. for your support. We are so proud to have been involved in such an impactful project!
