Facility Financing

Founded in 2007 to address the educational needs of Washington, DC’s poorest community, Achievement Preparatory Academy, Inc. (Achievement Prep) has become an award-winning, public charter school recognized for its immediate impact in closing the achievement gap between low-income and affluent students in the District.

Achievement Prep was teaching scholars in fourth through eighth grade and desired to expand to serve Pre-K through third grade.  In order to realize its vision, Achievement Prep needed to find a larger facility and it settled on a dilapidated former District of Columbia Public School building.

The project involved a full renovation of 45,000 square feet in the existing building to house the preschool and elementary school, and construction of an approximately 51,000 square foot addition to house the middle school for a combined square footage of 96,000 square feet. Building Hope provided a $2.5 million loan and a $500,000 credit enhancement towards the $33.9 million project costs.

In January 2016, Achievement Prep moved into their new facility with 715 students in Pre-K through eighth grade. The school anticipates being at full enrollment of 960 students for the 2016-17 school year.

(Photos courtesy Perkins Eastman.)