Students, school officials break ground on new classrooms

Greater Brunswick Charter School to mark beginning of project in Jan. 28 ceremony

FOR IMMEDIATE RELEASE

NEW BRUNSWICK (Jan. 25, 2010) – Students and their teachers will formally break ground later this week on a project to add more than a dozen classrooms to Greater Brunswick Charter School.

The project, which school administrators expect will be completed in time for the new school year in September, will outfit the charter school with a working science lab, an art room with a kiln and a gymnasium with a regulation-size basketball court. Work, which also will give the school a new roof, is budgeted to cost $3.7 million. Financing for the project was arranged by Real Estate Advisory and Development Services Inc., a nonprofit firm based in Metuchen.

“This is something we never could have done without READS,” said Jessica Tomkins, who as a longtime trustee of the school has been heavily involved in the school's expansion project. “From the financing to the architectural designs, READS has been one of our greatest resources.”

The groundbreaking, which will begin at 1:30 p.m., will include a musical performance by elementary students at the school, and will feature remarks from founding members of the school's board of trustees, and others.

It's been a long journey to this point. The charter school had its beginning in 1998, as one of the first charter schools crated under the aegis of the New Jersey Charter School Act. Charter schools are public schools run under a special charter with the state Department of Education rather than under the local board of education.

For the first six years, the charter school rented facility space from a steady succession of landlords. At one point, the school had to rent two separate spaces, one for its middle-schoolers and one for its elementary students.

“That was the year we realized we couldn't go on like that any longer,” said Tomkins, whose children both have attended the school. “We realized that we needed the security of owning our own building, and that we needed space where we could grow to a sustainable size.”

Working with READS, the school found a former bowling alley at 429 Joyce Kilmer Ave. that could be redeveloped as a school facility, and marked out a course for the school's growth. The school's trustees ultimately approved a plan that would involve increasing the enrollment to a total 360 students in order to find the economies of scale that would provide the school with the revenue it would need to support the staffing and program that the school's founders had envisioned.

The school moved into the rear half of the building six years ago, and rented the front half of the building to a pair of tenants who have since moved out. That space for the past year has been empty offices and a vacant warehouse.

To finance the expansion, Greater Brunswick Charter School took out a $6.55 million loan from Sun National Bank. The New Jersey Economic Development Authority, which sold Sun Bank the tax-exempt construction bonds for the project, also has lent the school an additional $1 million.

The remaining portion of the money not tied into the construction project represents the remaining principal on the school's initial mortgage. READS helped the school procure that loan as well, six years ago, from New Jersey Community Capital and The Reinvestment Fund of Minnesota.

Greater Brunswick Charter School is a free, independent public school developed by area parents and educators in 1998, with 293 students this year in kindergarten through eighth grade. Students come from New Brunswick, Highland Park, Edison, and other outlying districts in Middlesex, Somerset and Union counties.

For more information, call Mike DeBlasio, director of operations at Greater Brunswick Charter School, at (732) 448-1052.

On the web:
www.greaterbrunswick.org

READS to talk facilities needs with Phila. charter schools

Metuchen nonprofit pitches importance of property ownership for long-term sustainability

FOR IMMEDIATE RELEASE

METUCHEN (January 8, 2010) – After making its presence felt throughout the New Jersey charter school community, READS is taking its expertise to Philadelphia.

Recognized by the U.S. Department of Education for its work with charter schools, Real Estate Advisory and Development Services Inc., will lead an informal roundtable discussion for Greater Philadelphia charter schools on Wednesday. The meeting will be hosted by Blackney Hayes Architects. 150 S. Independence Mall W., Suite 1200, Philadelphia. Representatives of The Reinvestment Fund of Philadelphia also will attend.

“The education and services that charter schools provide are a great alternative to other existing models,” said Brian Keenan, director of READS. “Schools with their own facilities possess a vital link to the community they serve, and that’s why READS is excited to enter the charter school market in Philadelphia.”

READS provides guidance and development services to charter schools seeking to secure, purchase or develop a facility to meet their organizational needs. Founded in 2003, READS already has been responsible for 12 school facility projects in New Jersey, worth more than a total $100 million in development costs.

“For a charter school, owning their own facility is the key to long-term sustainability and success,” said Keenan. “Without that property title, a charter school is forever at the mercy of a landlord who may decide one year not to renew the lease. Once that title is in hand, though, they are free to begin building equity in their property and taking firm ownership over their future and their success.”

The roundtable discussion will acquaint representatives of interested charter schools with the work of READS and its Philadelphia-based partners, and how each of them can benefit a school interested in owning its own facility. Once contracted, READS represents and advocates for schools throughout the entire planning process, from the legal paperwork that must be completed, up through on-site construction management.

In New Jersey, more than 4,000 students have benefited from the services READS provides to charter schools, work that has garnered state and national recognition for innovation.

Founded in 1988, Blackney Hayes Architects has a portfolio of clients in education throughout New Jersey and Pennsylvania, including Charter High School for Architectural Design in Philadelphia.

The Reinvestment Fund of Philadelphia has financed many charter schools and other community-driven projects in urban areas across the Mid-Atlantic region. The Reinvestment Fund provides a necessary source of facilities financing to charter schools which are unable to borrow directly from banks.

“Philadelphia has a vibrant charter school community, said Keenan. “We believe in the work these schools are doing to equip the city's youth for the future, and we look forward to developing working partnerships with them in the weeks and months to come.”

An innovative nonprofit real estate development company, READS is committed to building strong organizations and communities through real estate development. Since its inception in 2003 READS has assisted nonprofits in New Jersey and Delaware in developing their facilities to meet their social service needs.

For more information, call Keenan at (732) 635-1000.

On the web:
www.readsusa.com
www.blackneyhayes.com
www.trfund.com

READS hires new staff at Metuchen office

FOR IMMEDIATE RELEASE

METUCHEN (Jan. 7, 2009) – READS Inc. has hired two new employees at its Metuchen office, to assist the organization in its mission of building communities.

C.J. Emslie of Metuchen has joined Real Estate Advisory and Development Services Inc. as its new director of construction. Also recently joining READS is Mary Demirjian of Edison, the firm's new office manager and benefits administrator.

Emslie previously worked for WDF Inc., a subsidiary of GreenStar Services Corp., from 2006 through 2009. He brings to READS his experience as a project manager and and site superintendent for a variety of construction projects, including civil and heavy construction, as well as school reconstruction.

“C.J. is a valuable addition to the READS team,” said director Brian Keenan. “Construction management is a foundational part of the service that we provide to our clients, particularly charter schools.”

Emslie has a bachelor's degree in communication and psychology from Monmouth University, and a graduate certificate in project management from Stevens Institute of Technology, where he is working toward a master’s degree in construction management.

Demirjian, who joined READS in November 2009, brings more than 20 years of experience in supervising and overseeing the general operations of an office. She comes to READS from the Metuchen YMCA, and previously had worked for Whittle Communications in New York.

Demirjian has a business and finance background from Mount St. Mary's College in Emmitsburg, Md., and a certification from Katharine Gibbs School in New York. She lives in Edison.

Based on Amboy Avenue in Metuchen, READS provides all phases of real estate development and technical assistance, including financial structuring and project management. READS has been recognized by the New Jersey Department of Education with the Corporate Partnership Award for its work with charter schools and by the U.S. Department of Education as a promising practice in real estate development.

For more information, call director Brian Keenan of READS at (732) 635-1000.

On the web:
www.reasdusa.com

READS helps school to secure $7.55M financing for expansion

Jan. 28 groundbreaking planned for Greater Brunswick Charter School project

FOR IMMEDIATE RELEASE

NEW BRUNSWICK (Jan. 5, 2010) – There's a growing sense of excitement at Greater Brunswick Charter School as staff and parents await the groundbreaking on a new construction project.

The school recently closed on a loan to give the school more than a dozen new classrooms, including a working science lab, an art room with a kiln and a gymnasium with a regulation-size basketball court. Work, which also will give the school a new roof, is budgeted to cost $3.7 million. Financing for the project was arranged by Real Estate Advisory and Development Services Inc., a nonprofit firm based in Metuchen.

“This is something we never could have done without READS,” said Jessica Tomkins, who as a longtime trustee of the school has been heavily involved in the school's expansion project. “From the financing to the architectural designs, READS has been one of our greatest resources.”

To finance the expansion, Greater Brunswick Charter School took out a $6.55 million loan from Sun National Bank. The New Jersey Economic Development Authority, which sold Sun Bank the tax-exempt construction bonds for the project, also has lent the school an additional $1 million.

The remaining portion of the money not tied into the construction project represents the remaining principal on the school's initial mortgage. READS helped the school procure that loan as well, six years ago, from New Jersey Community Capital and The Reinvestment Fund of Minnesota.

“This is an excellent illustration of how important it is to build equity,” said Jeff Crum, vice president of real estate development at READS. “Greater Brunswick Charter School would never have been able to afford this expansion project if the school hadn't been paying a mortgage for the past six years. Because the trustees wisely invested in the school's physical needs, the school is firmly positioned to own its future.”

A formal groundbreaking ceremony is scheduled for Jan. 28. Work already has begun.

The school now occupies only the rear half of the building, the front half now a vacant warehouse that in the past has housed a T-shirt manufacturer. When the renovations are complete, the school will fill the entire building.

READS provides all phases of real estate development and technical assistance, including financial structuring and project management. READS has been recognized by the New Jersey Department of Education with the Corporate Partnership Award for its work with charter schools and by the U.S. Department of Education as a promising practice in real estate development.

Greater Brunswick Charter School is a free, independent public school developed by area parents and educators in 1998, with 293 students this year in kindergarten through eighth grade. Students come from New Brunswick, Highland Park, Edison, and other outlying districts in Middlesex, Somerset and Union counties.

“In many ways this project is a homecoming for READS as well as for the school,” said Crum. “Greater Brunswick was the first charter school that READS ever worked with. The relationship that we began six years ago is one that we both value today.”

For more information, call Jeff Crum of READS at (732) 635-1000, or call Mike DeBlasio, director of operations at Greater Brunswick Charter School, at (732) 448-1052.

On the web:
www.reasdusa.com
www.greaterbrunswick.org