(Jan. 19, 2022 – New York City) – OPEN Impact Real Estate LLC (OPEN) announces that it represented Seton Education Partners in a 73,000-square-foot transaction for the ground-up construction of a new, stand-alone K-8 school to be located at 1956 Jerome Ave. in the Mount Hope neighborhood of the Bronx. Stephen Powers and Lindsay Ornstein, founders of OPEN, and Jake Cinti, vice president, and Alexander Smith, senior associate, at Transwestern Real Estate Services, jointly represented Seton in the 39-year leasehold condominium transaction. The building is being constructed and is owned by an affiliate of Bolivar Development.
The new school, located in Community School District 9, will be a Brilla Public Charter School, part of Seton’s pioneering public charter school network. It will house Brilla Pax Elementary and Middle School. Brilla Pax Elementary opened in 2020 and is currently serving grades K-1 in a nearby facility. The new building is expected to open for the 2024-2025 academic year, initially serving students in K-4, and expanding through eighth grade by 2028, serving over 800 students.
“Brilla Public Charter Schools seek to help children grow into well-rounded young women and men of integrity and wisdom,” said Matthew Salvatierra, Chief Financial Officer for Seton Education Partners and Brilla Public Charter Schools. “We appreciate the opportunity given to us to build a new school from the ground up, which will help us promote outstanding academic growth and serve the children and families of the vibrant Mount Hope community.”
The new Brilla Public Charter School will occupy the entire seven-floor building. The school will feature 27 classrooms, a ground floor cafeteria and, to help its students grow physically as well as intellectually, a full-size, column-free gymnasium, play areas on the rooftop and on a set-back, and separate entrances and lobbies for elementary and middle schools.
Located on a corner lot, the site provides Brilla Public Charter School with prominent frontage on Jerome Avenue and East Tremont Avenue The school will be highly accessible by students, parents and staff by public transportation, with a 4 Train station close by.
“We are pleased to have found Seton Education Partners an exceptional new home for their Brilla Pax Elementary and Middle School,” said Powers. “The school’s unique model will bring top tier education and afterschool programs to students in this underserved community.”
Bolivar Development was represented internally by Jim Lester, chief operating officer, and its principal, Peter Fine.
“We are pleased to partner with Seton Education Partners in the design and development of this important and much-needed school,” said Fine. “This project is part of Bolivar’s ongoing effort to deliver first-rate schools to working-class New Yorkers and to help improve this area of the Bronx.”
The site was recently rezoned as part of the Jerome Avenue Neighborhood Plan, announced by the City in 2018. The City committed more than $189 million in capital projects and services for the neighborhood, including creating or preserving affordable housing and establishing new, high quality neighborhood schools that will provide top-tier education to children in the Bronx for decades to come. The school is Bolivar’s third project in this rezoned section of the Bronx in the past three years.
About OPEN Impact Real Estate LLC
OPEN Impact Real Estate (OPEN) is a woman-owned business that delivers a comprehensive range of commercial real estate brokerage and advisory services, with a focus on supporting social-minded, mission-driven organizations. Based in New York City, OPEN serves clients across the United States, particularly those that value the benefits of working with an M/WBE with deep expertise in furthering mission through physical space. OPEN is an affiliate of Transwestern Real Estate Services. For more information, please visit www.openregroup.com.
About Transwestern Real Estate Services
Transwestern Real Estate Services (TRS) adds value for investors, owners and occupiers of all commercial property types through a comprehensive perspective and by providing solutions grounded in sound market intelligence. Part of the Transwestern companies, the firm applies a consultative approach to Agency Leasing, Asset Services, Tenant Advisory + Workplace Solutions, Capital Markets, and Research & Investment Analytics.
The privately held Transwestern companies have been delivering a higher level of personalized service and innovative real estate solutions since 1978. Through an integrated, customized approach that begins with good ideas, the firm drives value for clients across commercial real estate services, development, and investment management. Operating from 33 U.S. offices, Transwestern extends its platform capabilities globally through strategic alliance partners whose unique geographic, cultural, and business expertise fuels creative solutions. Learn more at transwestern.com and @Transwestern.
