Foundation work continues at 75 Canal Street West, the site of a seven-story, 1,400-seat charter school in Mott Haven, The Bronx. Designed by Perkins Eastman, the 70-foot-tall ground-up project will span 150,000 square feet for the KIPP NYC network of public charter schools located across The Bronx, Brooklyn, and Manhattan. KIPP purchased the property, which is bound by Canal Street West, Park Avenue, and East 138th Street, for $21.7 million in the summer of 2021.
Recent photographs show the state of work on the 33,640-square-property, which was formerly occupied by a taxi depot. Exaction is still ongoing around the southern corner as the outline of the new charter school begins to take shape amid temporary wooden railings and formwork, and steel rebar for the upcoming walls.
Earlier this year, KIPP NYC secured $209.3 million in bond financing for the 75 Canal Street West school. Build NYC Resource Corporation, part of the New York City Economic Development Corporation, provided the financing with the Bank of New York Mellon acting as the trustee. The total cost of the project is expected to be $117 million.
The nearest subways from the property are the 4 and 5 trains at the 138th Street-Grand Concourse station.
75 Canal Street West is anticipated to be finished on time before the 2025-2026 school year, becoming the 19th public charter school for KIPP NYC and the tenth such school overall in The Bronx. A finalized rendering has yet to be publicly released.