Crossroads College Preparatory School*
St. Louis, MO
Crossroads College Preparatory School, an urban independent high school founded in 1974, attracts a student body from over 60 zip codes in the St. Louis region, and takes pride in a 100% college acceptance rate, with students attending some of the top colleges and universities in the country. The school’s building was originally a grocery store built in 1966. Portions of the school were adapted to add a gymnasium and cafeteria, however, the school continued to be challenged by the needs of its growing student body.
As the turnkey developer for a new expansion and renovation of the school, McCormack Baron Salazar helped to structure the financing, managed design and construction activities and coordinated the LEED team to ensure the project was completed on time and within budget within very tight schedule and cost constraints.
Included in the 9,000 square foot expansion and 17,000 square foot renovation are three new, state of the art science labs, new space for Crossroads College Prep’s successful music programs, an expanded library, and a new technology lab. With its strong emphasis on social responsibility, Crossroads College Prep is teaching by example and in 2010 became one of only six LEED Platinum schools in the United States. As the first LEED-certified school at any level in the St. Louis region and the second in Missouri, Crossroads College Prep is a “best practice” not only for students but also for schools and businesses all over the state interested in environmentally sustainable facilities.
Financing for the project included: equity proceeds generated by state and federal New Market Tax Credits awarded to MBS Urban Initiatives CDE; a loan through Enterprise Bank & Trust; and fundraising proceeds through the Friends of Crossroads College Prep.
This institution is an equal opportunity provider.
Quick Facts
Project Goal: School expansion and renovation
Total Development Costs: $9,700,000
Square Footage: 9,000 sq. ft. expansion and 17,000 sq. ft. renovation
Developer: McCormack Baron Salazar
Tax Credit Investor: U.S. Bancorp CDC
NMTC Allocation: $7,925,000
Key Project Financing: Friends of Crossroads College Prep, Enterprise Bank & Trust
Construction Jobs: 95
Permanent Jobs: 35 full-time, 8 part-time
Investment date: Fall 2008
Opening date: Fall 2009