On October 5th the Livermore Valley Charter School held a ground breaking ceremony for the new campus located at 3186 Constitution Drive in Livermore. The new school site is composed of 91,800 square feet in 16-buildings within the development called Montevina and 12.4 acres of adjacent land. The K-12 campus is enrolling for the 2013 school year.
This has been an uphill battle for the Tri-Valley Learning Corporation (parent company of Livermore Valley Charter Preparatory) for a couple of years now. Due to the market downturn and lack of loans being issued this project has hit a number of road blocks, including a low appraisal value last year. The charter school has taken many routes to accomplish the acquisition, most recently re-structuring the financing of the deal. This very complicated transaction was done in part by funding via bond, the purchaser being a publicly traded real estate investment trust. The total transaction is estimated to be worth just under $22 million. Hats off to all those involved, this is great success for the charter school, students, and future students in the Livermore Valley and beyond.
For more information about Livermore Valley Charter visit their website http://www.lvcp.org/