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SUMMARY:Real estate is real need for Memphis charter schools - Property proves scarce\, competitive
DESCRIPTION:By Jane Roberts - The Commercial Appeal\nSaturday\, March 6\, 2010\nFor the nearly dozen people opening or expanding charter schools in Memphis\, the throbbing headache is real estate.\nWhen Memphis Business Academy principals decided to buy an abandoned Kmart in Frayser late last year\, several administrative hearts sank.\n"The board (of education) approved seven new charters. They are all looking for the same property we are\," said Curtis Weathers\, head of Memphis Academy of Health Sciences.\nMAHS\, which intends to open an elementary school in the fall of 2011\, wants to relocate its high school now. It thought it had a logical claim to Caldwell Elementary because the charter started there.\nCaldwell\, the North Memphis elementary the school board will close this summer\, is coveted by several charters\, including KIPP Diamond\, now at Cypress Middle.\nKIPP leaders say they are negotiating with Memphis City Schools\, "but the details have not been worked out\," said Jamal McCall\, CEO of KIPP Memphis.\n"The ideal situation is to work with (Memphis City Schools) to lease an existing school building. "If you don&#39\;t\, you have to find an existing facility. And that means renovations\, which requires a lot more funds."\nRev. Anthony Anderson\, executive director of Memphis Business Academy\, borrowed $1 million and put in $200\,000 of his own money for the Frayser Kmart.\n"We&#39\;ve been around 51/2 years. The fact that we fund a good charter is the reason we can do what we are doing.\n"If you run your business well\, you can go to the bank and get what you need. Our business is no different from Kroger or Dollar General."\nTim Ware\, opening Veritas College Preparatory Charter School this fall\, doesn&#39\;t have the luxury.\n"A startup charter does not have the track record of revenue or financial management\," he said.\nHe&#39\;d like 32\,000 square feet in Orange Mound\, enough space to accommodate enrollment projections through 2012.\n"We were approved Dec. 21. Here we are at the beginning of March ... and the need for a facility is absolutely urgent."\n— Jane Roberts\: 529-2512
URL;VALUE=URI:http://www.commercialappeal.com/news/2010/mar/06/real-estate-is-real-need-for-schools/
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DTSTART;TZID=US-Central:20100306T101600
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