Texas Charter School Development

Expanding educational opportunities for students in under-resourced communities

PCSD

Elevate Collegiate and TCSD Celebrate Long-Term Space for Greater Third Ward Scholars 

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Elevate Collegiate Charter School and Texas Charter School Development Celebrate Long-Term Space for Greater Third Ward Scholars 

Houston, Texas, September 28, 2023 – Elevate Collegiate Charter School and Texas Charter School Development hosted a Ribbon Cutting Ceremony in Elevate’s new home at St. James Episcopal Church (3129 Southmore Blvd). The 35-year lease allows the school to grow and house its PK through 5th-grade students in a place with extensive community history. Fourth grade students greeted elected officials, and community leaders to celebrate the completion of Phase 1 of the renovation. Council Member David Robinson was in attendance and congratulated the school on its new home. Immediately following the cutting of the ribbon, attendees had an opportunity to tour the school led by the school’s Founder, Rebecca Francis-Jones. 

“St. James Episcopal Church has been a beacon in our community for over 75 years and we are glad to provide a safe learning space for our community’s children. We look forward to seeing them flourish into Houston’s future leaders,” expressed Reverend Thomas, St. James’ Rector.  

For the past 5 years, Elevate Collegiate has co-located with another charter school and has outgrown the space. In 2022, Texas Charter School Development started its work in Houston and partnered with Elevate Collegiate’s Founder Rebecca Francis-Jones.

“We create long-term facilities solutions that expand educational opportunities in under-resourced communities. Elevate’s work in the Greater Third Ward community is inspiring, and our team is committed to solving their facility challenges while they focus on educating Houston’s children,” said TCSD’s CEO, John Sun.

Since 2019, Elevate Collegiate has served students from the Greater Third Ward area, but with Houston’s growth and development, it has been difficult to find a place that was available and move-in ready for the school. 

TCSD believes that every child deserves a safe and inspiring learning environment, which drives their work. Over the last year, TCSD’s team has worked with numerous vendors to secure the lease, renovate the space, and pass City of Houston inspections. TCSD provided an investment of $2,000,000 which was secured through various funding sources, including support from Charter School Growth Fund.

The work continues with Phase 2 throughout the next year where 12 classrooms, offices, and the cafetorium will be prepared to house the entire school. Once completed the campus will have seats for 472 students. Elevate Collegiate and TCSD are investing in the future of its Greater Third Ward Scholars.

“Working with TCSD has been seamless and it feels like they are an extension of my team. They have worked through so many challenges to get our PreK through 2nd Grade spaces ready for this year, and I look forward to the completion of Phase 2 when I’ll have all of my students on the new campus,” said Francis-Jones. 

About Texas Charter School Development

Texas Charter School Development (TCSD) is a non-profit, full-service real estate development firm. It offers an array of services tailored to meet the unique needs and goals of each of our charter school partners.

About Elevate Collegiate Charter School

Elevate Collegiate Charter School equips all students with the academic knowledge and character development necessary to set forth confidently on the path to college and a life filled with opportunity. Elevate Collegiate empowers, educates, and elevates students in grades PK through 5th. 

TCSD team standing in front of Elevate campus
Tour of new campus and phase II
Ms. Jones cuts ribbon with community

The post Elevate Collegiate and TCSD Celebrate Long-Term Space for Greater Third Ward Scholars  appeared first on Pacific Charter School Development.

CharterNation Podcast: John Sun Discusses Charter School Facilities

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Finding a permanent school facility is the dream of many charter school leaders in California. But the lack of affordable real estate, the lack of space in big cities, and certain school authorizers can make finding a site extremely difficult. Pacific Charter School Development, a nonprofit real estate development firm, helps solve that problem. PCSD’s CEO John Sun offer his expertise. John’s interview is followed by a profile on charter school leader, Robert Golden, who is building a new state-of-the-art school facility for Golden Charter School Academy with the help of PCSD.

Tune in here to listen! John’s interview begins at 20:31.

The post CharterNation Podcast: John Sun Discusses Charter School Facilities appeared first on Pacific Charter School Development.

PCSD Receives $20 Million Award from the U.S. Department of Education for Credit Enhancement

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Pacific Charter School Development Receives $20 Million Award from the U.S. Department of Education for Credit Enhancement

Los Angeles, California, September 29, 2023 — Pacific Charter School Development (PCSD), a non-profit organization committed to addressing educational inequality, is proud to announce the receipt of a $20 million award from the U.S. Department of Education’s Credit Enhancement for Charter School Facilities Program for 2023. This significant award will further PCSD’s mission to empower charter schools and create sustainable educational facilities in under-resourced communities across California, Texas, and Washington.

PCSD’s overarching goal is to demonstrate how their innovative model, which includes partnering with philanthropic and mission-minded investors, can expand the lending market for early-stage and expanding schools. By leveraging this award, PCSD seeks to significantly impact the charter school community and provide equal educational opportunities to students in underserved communities.

The award, administered through the U.S. Department of Education’s Credit Enhancement for Charter School Facilities Program, marks a pivotal moment in PCSD’s journey to transform education in underserved areas. With this award, PCSD aims to strengthen charter school facilities and expand educational opportunities for students who need it most.

The $20 million award from the U.S. Department of Education will be instrumental in PCSD’s ongoing efforts to create educational facilities that are financially sustainable. The award will be allocated to two primary strategies:

1. $12 Million Loan Loss Reserve: This reserve will be leveraged with $35 million of PCSD’s equity to raise a total of $40 million in commercial debt with advantageous terms. This initiative will establish the $75 million Pacific Charter Facility Fund (PCFF), dedicated to providing low-cost capital for the development of new charter school facilities.

2. $8 Million Debt Service Reserve: Designed to increase charter schools’ access to financing, this reserve will incentivize lenders to offer financing, especially to early-stage schools, with terms that they can afford.

Through the PCFF, PCSD is committed to supporting a minimum of 15 school facility projects within the first five years of the award, including 10 early-stage or expanding schools and 5 replicating schools. The organization plans to leverage a remarkable 25:1 Debt Reserve to senior debt ratio to secure financing with affordable terms for at least 10 school facility projects.

“We are deeply honored to receive this award from the U.S. Department of Education,” said John Sun, CEO of PCSD. “This funding will not only transform the landscape of charter school facilities but also empower countless students with access to high-quality education. We are grateful for the Department of Education’s support in our mission to dismantle systemic inequality in education.”

About Pacific Charter School Development
Pacific Charter School Development (PCSD) is a non-profit, full-service real estate development firm. It offers an array of services tailored to meet the unique needs and goals of each of our charter school partners. During our nearly 20-year history, PCSD has secured more than $1.09 billion in financing for school development projects, benefiting more than 120 schools and serving over 49,000 students in under-resourced communities in California, Massachusetts, Washington, and Texas. For more information, visit Pacific Charter School Development.

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PCSD Interns: Unlocking the World of Real Estate and Commercial Lending: A Journey with City National Bank

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Real estate is an all-encompassing industry that impacts our daily lives in numerous ways. From the places we work and shop to the homes we live in, real estate plays a vital role in shaping our communities. Recently, our interns had the opportunity to meet with Dena Harte, Cindy Cindrich, and Simon Wu from City National Bank. This encounter opened our eyes to the intricacies of commercial lending and the fascinating world of real estate. In this blog post, we’ll take you on the same journey we experienced, exploring the valuable insights and lessons we gained from our meeting with these seasoned professionals.

Dena Harte: A Wealth of Experience in Commercial Banking

Our journey began with Dena Harte, an expert with an impressive 20-year tenure at City National Bank. She specializes in working with nonprofit organizations and for-profit corporations, managing deposits and endowments. Her vast experience and keen understanding of the commercial banking landscape made her an invaluable resource throughout our discussions.

Cindy Cindrich and Simon Wu: Unveiling the World of Real Estate

Cindy Cindrich, a veteran with 24 years of experience, and Simon Wu, work in City National Bank’s commercial lending site. Their expertise lies in the income property group, where they navigate the complexities of real estate lending. During our meeting, Cindy and Simon delivered an engaging and dynamic presentation on the diverse aspects of real estate.

Understanding Real Estate: A Comprehensive Overview

Cindy and Simon began our session by shedding light on the diverse facets of real estate. From retail spaces like malls and power centers to various office types, multi-family properties, industrial spaces, and special-use facilities, the scope of real estate is vast and varied. Each category has its own set of advantages and disadvantages, which they elaborated on, giving us a comprehensive understanding of the market.

The Role of Lenders: Unveiling the Lending Process

One of the most insightful aspects of our meeting was when Cindy and Simon walked us through the lending process from the perspective of City National Bank. They explained what lenders look for when considering loan applications. To demonstrate this, they role-played a scenario in which Simon presented a facility to the bank seeking a loan, while Cindy posed challenging questions to assess the feasibility of the loan.

Lessons Learned: The Complexity of Real Estate Investment

Through this interactive session, we came to realize that securing a loan for real estate investment is no simple task. The intricate web of factors to consider, including competition, local businesses, location, occupancy rates, and more, requires meticulous evaluation. It was evident that thoughtful planning and thorough research are essential before embarking on any real estate venture.

Fueled by Passion: A New Interest in Real Estate

As our meeting concluded, we found ourselves captivated by the world of real estate and commercial lending. The knowledge shared by Dena, Cindy, and Simon ignited a newfound interest in many of us to explore this field further. The interns even expressed their desire to pursue careers or investment opportunities in real estate, driven by the allure of its challenges and rewards.

Our meeting with Dena Harte, Cindy Cindrich, and Simon Wu from City National Bank was an enlightening experience that broadened our horizons and deepened our understanding of real estate and commercial lending. We learned that the world of real estate is multifaceted and that securing loans for such investments requires careful consideration of various factors. The passion and expertise of these professionals inspired us to explore this industry further, and we look forward to unlocking more doors of opportunity in the fascinating world of real estate.

The post PCSD Interns: Unlocking the World of Real Estate and Commercial Lending: A Journey with City National Bank appeared first on Pacific Charter School Development.

PCSD Interns: Driving Impact and Empowering Education: Insights from Rob Nickell, Executive VP at HJ Sims

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In the ever-evolving landscape of finance and investment, some firms stand out for their unique approach and unwavering commitment to making a positive impact. HJ Sims, a boutique investment firm founded in 1935, is one such company. Recently, our interns had the privilege of speaking with Rob Nickell, the Executive Vice President at HJ Sims. Rob shared his experiences, insights, and passion for working in the finance industry, particularly in the realm of education and non-profits. Let’s delve into the fascinating journey of a seasoned professional who finds fulfillment in transforming the educational landscape and serving the greater community.

A Legacy of Excellence

HJ Sims’ rich history spans nearly a century, and its continued success can be attributed to its commitment to personalized service and dedication to its clients. As a family-owned business, it embraces the values of integrity, trust, and long-term vision. The current CEO, the son of the founder, carries forward the legacy of the firm and its mission to create value for its clients and the community.

A Specialized Approach

HJ Sims proudly focuses on wealth management, investment banking, and institutional services. A unique aspect of the firm is its dedication to specialized services. An essential part of HJ Sims’ identity is their education practice, which they established 25 years ago. Through this initiative, they have made significant strides in supporting schools, especially charter, independent, and private schools, as well as higher education institutions.

Rob Nickell: A Visionary Leader

Based in Dallas, Rob Nickell spearheads HJ Sims’ endeavors across the western United States, from Texas to California. As a co-leader of the education finance practice, he plays a vital role in securing financing for schools to construct and establish permanent homes. His mission is not just about securing funding but doing so in a cost-effective manner.

Drawing from a diverse background

Rob’s journey to his current position is a testament to the importance of a well-rounded education and diverse experiences. Graduating from Emory with a degree in finance and technology and a minor in philosophy, Rob’s education laid the foundation for his future achievements. His initial foray into the finance industry led him through various roles at both large and small firms, ultimately leading him to public finance, where he found his niche in the education and nonprofit sectors.

A Passion for Impact

Rob’s dedication to his work is evident in his passion for investment banking, which he finds stimulating and rewarding. But what truly sets his career apart is his ability to leverage his expertise for the betterment of the community through his work with educational and nonprofit institutions. By facilitating financing for schools, he plays a pivotal role in shaping the future of countless students, ensuring they have access to quality education and resources.

Building and Nurturing Relationships

Throughout his career, Rob emphasizes the importance of relationships as the bedrock of his success. By investing time and effort in understanding the needs and aspirations of his clients, he has forged strong and enduring partnerships that have proven instrumental in achieving mutual growth and success.

In an industry where profits often take precedence, HJ Sims and its Executive VP, Rob Nickell, serve as a shining example of how finance can be a force for good. Through their specialized approach and dedication to educational and nonprofit finance, they create meaningful impact and empower communities to thrive. Rob’s journey reminds us of the significance of building diverse skills, finding a passion that aligns with our values, and prioritizing meaningful relationships.

The post PCSD Interns: Driving Impact and Empowering Education: Insights from Rob Nickell, Executive VP at HJ Sims appeared first on Pacific Charter School Development.