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Aspire Public Schools and Turner-Agassi Charter School Facilities Fund Celebrate Opening of New Charter School Campus in Modesto

April 26, 2019

MODESTO, Calif.--(BUSINESS WIRE)--Apr 26, 2019--Tennis champion Andre Agassi, Turner Impact Capital CEO Bobby Turner, Aspire Public Schools, Stanislaus County Superintendent of Schools Scott Kuykendall, and leaders from the Turner-Agassi Charter School Facilities Fund today celebrated the official opening of a new Aspire Public Schools campus, home to two charter schools: Aspire University Charter School, serving grades TK-5, and Aspire Vanguard College Preparatory Academy, serving grades 6-12. The Aspire Modesto campus was originally home to the Sportsmen of Stanislaus Club (SOS Club), a beloved Modesto institution that served the community for 60 years. In its new role as home to the Aspire public charter school campus, the property continues its legacy as a community-serving landmark for Modesto.

The 67,000-square-foot campus—a mix of ground-up development and adaptive reuse—was developed by the Turner-Agassi Charter School Facilities Fund, a mission-driven social impact investment fund that provides resources and real estate expertise to high-performing charter school operators across the nation, enabling them to access top-quality facilities. The Modesto campus is the first charter school campus opened by the partnership between the fund and Aspire.

Aspire University Charter School and Aspire Vanguard College Preparatory Academy moved to the campus in September 2018. Together, the schools will serve approximately 1,000 students at maturity.

Aspire Public Schools’ mission is to open and operate small, high-quality public charter schools in low-income neighborhoods in order to increase the academic performance of underserved students, develop effective educators, share successful practices, and catalyze change in public schools. Now in its 20th year, Aspire Public Schools serves 17,000 students in 40 schools across California and Tennessee. Aspire is on track to expand its reach to serve 20,000 students by 2022.

“We are thrilled to formally open the new Aspire Public Schools campus in Modesto,” said Tony Solina, Central Valley Region Area Superintendent for Aspire Public Schools. “We are especially thankful for our partnership with Turner-Agassi, who have been instrumental in our ability to open this new campus and provide our students in grades TK-12 with the top-notch facilities they need to thrive.”

Securing high-quality, long-term facilities is often one of the greatest impediments faced by charter school leaders. Turner-Agassi provides resources, development experience and a passion for educational excellence to help top school operators focus on their first priority: helping students succeed.

“Aspire Public Schools is a proven charter operator, making an enormous difference in the lives of thousands of students in under-resourced neighborhoods,” said Bobby Turner, the fund’s Co-Managing Partner as well as Principal and Chief Executive Officer of Turner Impact Capital. “The new Modesto campus will expand Aspire’s impact, and most importantly, provide students with a modern, dynamic campus that provides the resources they need to succeed.”

A joint venture of Turner Impact Capital and Agassi Ventures, Turner-Agassi is backed by a world-class group of institutional investors who share a commitment to effecting positive societal change in urban centers across the United States. To date, 105 schools have been developed or are in development across the country, serving 57,000 students in communities such as North Philadelphia, Newark, the Bronx, Southwest Detroit, South Dallas, and North Las Vegas.

“The new Aspire campus in Modesto is a game-changer for Aspire students and faculty,” said Andre Agassi, the fund’s Co-Managing Partner and CEO of Agassi-Graf Holdings and the Andre Agassi Foundation for Education. “By securing a modern campus with excellent facilities, students are able to focus on learning and achieving their highest potential.”

“It is a joy to see so many students receiving an excellent education in world-class facilities,” said Superintendent Scott Kuykendall. “The partnership between Aspire Public Schools and the Turner-Agassi Charter School Facilities Fund provides a fantastic school experience for thousands of Modesto students and families. We look forward to continuing to see these students achieve great things.”

The Aspire campus includes new classrooms, arts and science rooms, a gym, play space, tennis courts, and more.

The Turner-Agassi Charter School Facilities Fund takes the lead in site selection, acquisition, design and construction for new school facilities, which are then leased back to school operators, who can purchase their schools once they reach full occupancy. The fund intends to help operators obtain permanent financing using New Market Tax Credits, tax-exempt bond offerings or funding from the U.S. Treasury’s Community Development Financial Institutions Fund.

“Turner-Agassi is committed to providing best-in-class charter school operators with access to high-quality facilities,” said Glenn Pierce, President of Education Initiatives at Turner Impact Capital. “We are proud to combine our real estate knowledge with Aspire’s education expertise to create a state-of-the-art campus for hundreds of students in Modesto.”

About the Turner-Agassi Charter School Facilities Fund

The Turner-Agassi Charter School Facilities Fund is the nation’s largest fund solely designed to accelerate the growth of high-performing, urban charter schools. Since its inception in 2011, the original fund and its successor have developed 105 schools serving the needs of 57,000 students throughout the United States. With dedicated funding from preeminent social impact investors, the fund is in active discussions to build even more seats in the near future. For more information, please visit www.turnerimpact.com.

About Aspire Public Schools

Aspire Public Schools’ mission is to open and operate small, high-quality charter schools in low-income neighborhoods, in order to: increase the academic performance of underserved students; develop effective educators; share successful practices with other forward-thinking educators; and catalyze change in public schools. Our vision is that every student is prepared to earn a college degree. Now in its 20th year, Aspire Public Schools serves 17,000 students in 40 schools across California and Memphis, Tennessee. As we look ahead, we are on a trajectory to expand our reach to serve 20,000 students by 2022.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190426005548/en/

CONTACT: Molly Hogin

(310) 251-5360 |molly@sugermangroup.com

KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA

INDUSTRY KEYWORD: EDUCATION PRIMARY/SECONDARY PHILANTHROPY PROFESSIONAL SERVICES FINANCE FOUNDATION FUND RAISING

SOURCE: Turner Impact Capital

Copyright Business Wire 2019.

PUB: 04/26/2019 03:00 PM/DISC: 04/26/2019 03:00 PM

http://www.businesswire.com/news/home/20190426005548/en

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