Andre Agassi, Bobby Turner and other leaders of the Canyon-Agassi Charter School Facilities Fund (CACSFF) joined students, educators and community leaders today to celebrate the opening of Southwest Detroit Lighthouse Charter Academy, a new school in the Chadsey-Condon neighborhood dedicated to preparing underserved students to succeed in college.
Charter Schools are designed to give an alternative to the publically funded intermediate school districts. They are popular in areas where the local district is below average in its educational results.
Southwest Detroit Lighthouse Charter Academy currently serves 300 students from kindergarten through fifth grade in a new, ground-up construction facility at 4001 29th Street. The school is anticipated to grow to 475 students by 2017. CACSFF acquired the 5.6-acre site, constructed the new 41,000 square-foot school with 26 classrooms, and is leasing the property to Lighthouse Academies, a network of 20 high-performing charter schools in six states and the District of Columbia.
This is the first Detroit investment for CACSFF, a real estate fund that providing capital to allow operators of best-in-class charter schools to secure permanent, high-quality school facilities. CACSFF has partnered with Lighthouse Academies once before to open North Point Lighthouse Charter School, a pre-K – 4th grade school in Milwaukee, Wisconsin.
“Successful charter schools have the potential to create better educational opportunities for children across the United States. We are committed to increasing the growth of proven academic performers by providing easier access to school facilities and bridging the gap to ownership,” said Bobby Turner, CACSFF Co-Managing Partner and Chairman and CEO of Canyon Capital Realty Advisors. “We are pleased to team up for a second time with Lighthouse Academies, which has an excellent track record of innovation and achievement. We are confident that Southwest Detroit Lighthouse Charter School will deliver terrific results for its new students.”
Includes parts of CACSFF press release.
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