SCG Retail, a division of The Shopping Center Group, announced the signing of a 38,000 s/f lease for The South Bronx Early College Academy Charter School at 766 Westchester Avenue in the South Bronx.
The school is currently at 423 East 138th Street.
Radame Perez, COO of Mastermind, Ltd, is developing a two-story middle school that will provide education for 330 children.The facility includes a rooftop educational and activities space.
Currently a vacant lot, the developer will absorb a total development cost of $14 million on the build-to-suit building.
According to Michael Miller, the SCG Retail broker who represented the Early College Academy, “An incredible amount of passion, commitment and hard work went into making this happen.
“Quite frankly, without Radame’s vision and belief in the South Bronx Academy, this wouldn’t have happened. This deal is as much about the faith in the tenant and the future of the South Bronx, as it is a business deal.”
Ric Campbell, executive director and co-founder of the school, was instrumental in working with the developer to get the deal done.
The Early College Academy has also received a New York State Stimulus Fund Grant from the SUNY Charter Schools Institute that will support the build out of the rooftop activities area.