FEATURED PROJECT
Building Futures: Cristo Rey Miami High School’s Journey to Expansion
HIGHLIGHTS
$18.7 million total project cost
40,000 SF high school building adjacent to the current campus building
61 Full Time Jobs
Expand Education Programs and Enrollment
Anticipated to Educate 440 Students Annually
Cristo Rey Miami High School
About Cristo Rey Miami High School
Educating Tomorrow’s Leaders—Today
Cristo Rey Miami High School (CRM), a nonprofit affiliate of the Cristo Rey Network, has demonstrated a steadfast dedication to providing high-quality private education at accessible costs since its founding in 2017 in Miami. Officially opening its doors in 2022, CRM currently serves 153 students in the 9th and 10th grades, aiming to support the educational needs of students and the broader community.
THE CHALLENGE
Expanding to Serve More Students
Cristo Rey Miami High School is dedicated to providing students with the best private education at affordable prices. Currently, the school can only accommodate 75 9th-grade and 78 10th-grade students. As demand grows, Cristo Rey Miami is ready to expand and serve more students. However, the current facility, originally designed as a church and daycare center, falls short of meeting the needs of a full-scale high school and lacks the capacity for the anticipated enrollment for the 2024-2025 school year.
To address this, CRM has launched a project to acquire and rehabilitate a new high school building. This new facility will enable CRM to serve a larger student body and continue providing quality education to low-income students. The expansion will support grades 9-12 and feature modern classrooms, STEAM labs, administrative offices, a rooftop recreation area, and open courtyards. Without these improvements, CRM cannot fully meet the educational needs of Miami families seeking accessible private education.
THE SOLUTION
Innovative Financing and Strategic Consulting with BBIF
Cristo Rey Miami High School has diligently worked to secure the necessary funds to expand and enhance the learning experience for students at an affordable rate. They have successfully executed a capital campaign and have cash on hand, but a financing gap remains. Closing this gap is crucial for the project's progress and to give any additional students the opportunity to have their tuition covered through public scholarship programs.
To address these financial challenges, CRM sought support from BBIF. Recognizing the project's potential to benefit the community, BBIF provided $10 million in New Market Tax Credits (NMTC). This funding will be instrumental in financing the acquisition and rehabilitation of a 40,000 square-foot high school building adjacent to the current campus. The project is expected to be fully operational by the fall 2024 semester, providing much-needed educational infrastructure in Miami that meets the needs of local families.
THE IMPACT
Transforming Lives Through Education
The new Cristo Rey Miami High School facility will have a transformative impact on the community. The project will enable CRM to serve 440 students annually, equipping them with the skills and opportunities to succeed through innovative workforce development and community citizenship programs. Additionally, the project will create 28 permanent full-time jobs and retain 33 full-time positions, significantly contributing to the local economy. By providing a high-quality education to students, CRM is fostering a new generation prepared to create a more just and hopeful future.
BBIF's decision to support Cristo Rey Miami High School stems from a shared commitment to empowering youth through education and providing a pathway for students to realize their full potential. By bolstering CRM's efforts to expand and enhance its educational offerings, this strategic partnership seeks to make a lasting impact on Miami's educational landscape, ensuring that every student has the opportunity to thrive and contribute meaningfully to their community.
"Supporting Cristo Rey Miami High School aligns perfectly with our mission to empower communities through education. By providing the necessary funding for their expansion, we are not only helping to improve educational opportunities but also fostering economic growth and stability in the community. We are proud to partner with CRM in creating a brighter future for Miami's youth."
Duane Lewis
Duane Lewis, COO at BBIF
