263 East 203rd Street
Developer Lands $38.6M Loan for Bronx Prep School
Developer, , has just obtained a $38.6 million loan for a 6-story prep school project, set to rise at 263 East 203rd Street in the Bedford Park neighborhood of the Bronx. Issued by M&T Bank, this influx of capital will be used to fund all construction costs from the ground up.
The project will result in a new location for the Girls Prep Bronx Elementary School II; an academy affiliated with Public Prep Network, Inc. Public Prep is an award-winning network of charter schools, spanning Manhattan and the Bronx. Notably, it is the nation’s first non-profit tuition-free charter school network to develop Pre-K, single-gender elementary, and middle public schools.
The project site totals square feet and is a rezoned combination of what was previously several neighboring lots. Construction is expected to take approximately two and a half years, with the school planning to open its doors in August of 2024.