Project Description
Providence Cristo Rey High School
2717 S East Street, Indianapolis, IN 46225
Total Project Costs: $11,759,349
Total NMTC Allocation: $11,000,000
SCORE Allocation: $11,000,000
Closing Date: May 2023
Distress Criteria:
- 25.6% poverty rate
- Unemployment rate 1.58x the national average
- 70.7% median family income
Community Impacts:
- 340 students served annually
- 100% of studs qualify as low-income
- 94% of students are minorities
- Created 12 construction jobs
- Retained 59 jobs and created 11 new jobs
The Project supported the acquisition and rehabilitation of a new 131,000 square foot high school. Cristo Rey’s 100+ year old former building was in a deteriorating condition that lacked the necessary amenities and adequate space to meet the needs of its students.
Cristo Rey promotes the professional development of its students through its nationally renowned Corporate Work Study (CWS) program that allows students to work one day a week in a wide variety of industries with different local companies such as Ely Lily and PNC. Cristo Rey’s CWS program promotes its students’ future successes by enabling them to learn soft and hard professional skills while also funding approximately one-third of their tuition. Over a student’s four years in high school, the CSW program allows students to gain over 1,000 hours of professional work experience, which puts them well ahead of their peers while in high school and through college.
In addition to aiding in professional growth, Cristo Rey boasts an approximate 100% graduation rate for its students. This is compared to the 76% average graduation rate for surrounding Indianapolis Public Schools. Students who graduate from Cristo Rey also graduate with an average of 17 college credits with 88% of students choosing to attend college. Not only does this project provide Cristo Rey students with more tools for success, but it also supports them outside of the classroom. This new location includes an adequately sized gym and athletic fields, factors which the old location lacked. This means that it can now host athletic competitions onsite, allowing for greater levels of competition for its students.
Community Alignment
McCaffery’s support of this innovative preparatory school has allowed for more students to be reached in a higher quality environment. As a result, minority students from this low-income area of Indianapolis are given an increased chance of future success.