Anna Julia Cooper School
We structured and closed $18 million in NMTC financing to support the construction of a new elementary school that provides high-quality, tuition-free education.
Anna Julia Cooper School
NMTC for Projects
Richmond, VA
The Anna Julia Cooper School is an independent, tuition-free school founded to serve low-income students. SB Friedman structured the financing for construction of a 36,000-SF elementary school building to replace an inadequate leased facility. The new building includes 12 classrooms, expanded space for art and music programs, a gymnasium for athletics and after-school enrichment opportunities, and an athletic/playing field. Beyond the classroom, all students will receive comprehensive behavioral and developmental support including counseling and speech therapy, and upon graduation receive additional academic support, counseling, mentorship and financial assistance.
Work Completed
Marketed the project to a range of NMTC financing providers
Secured $18 million in NMTC allocation from multiple CDEs
Negotiated and obtained top-of-market NMTC equity pricing
Coordinated NMTC funding with capital campaign proceeds
Led an efficient and smooth closing process
Providing post-closing support around compliance and other NMTC obligations
Results
Construction is projected to be completed in 2026. The new elementary school facility for the Anna Julia Cooper School will double the institution’s student capacity and will provide low-income students with tuition-free, high-quality education.
Featured Impact Numbers
172 annual student capacity
87% increase from prior capacity