Apex Development Group and Knickpoint Ventures have successfully secured a $32 million loan for the acquisition and construction of a charter school facility in Elmhurst, Queens. The 60,000-square-foot building will serve as the home for Forte Preparatory Academy Charter School, catering to students in grades five through eight with an emphasis on college readiness.
The financing was provided by a consortium of nonprofit organizations including Low Income Investment Fund, Enterprise Community Loan Fund, and Reinvestment Fund. Construction is scheduled to commence in June 2024 with an estimated completion date of July 2026.
This project marks the start of a larger collaboration between Apex and Knickpoint Ventures aimed at developing community-focused initiatives throughout New York City. The development of this facility prioritizes energy efficiency and equal access to education.
The article “Queens Charter School Lands $32M Loan” was originally published on Connect CRE.
