Fee Developer Services

Nova Classical Academy
St. Paul, MN

http://www.novaclassical.org/

Project profile:  Ground up construction of a new, 92,000 square foot three-story facility that includes regulation basketball courts and classroom space to accommodate a full K-12 educational program for up to 1,000 students.  Total project costs: $17,664,000

Nova Classical Academy began operations in 2003 with 166 students in grades K-6, and has added grades annually with the goal of offering a complete K-12 educational option. Nova offers a rigorous academic program based on a classical education model and has earned a reputation of academic excellence that has propelled steady growth.  This growth forced the school to operate from two sites due to limited availability of school-appropriate leased facilities in the St. Paul area.  The dual site structure created cost and logistical inefficiencies for staff and families with students in grades at each campus and ultimately became a hindrance to the school’s long term strategic growth plans.

The school hired CSDC as its “Fee Developer” in June 2011 for the purpose of developing a new campus that would accommodate its full K-12 program in one central location.  CSDC led the predevelopment process, negotiated the purchase agreement on the property, arranged the tax-exempt bond financing bonds issued through the Saint Paul Housing and Redevelopment Authority and underwritten and marketed by Piper Jaffray and Company, helped select the architect and general contractor, and managed the entire 10-month construction project through completion.

A new three-story 92,400 square foot building with 58 classrooms, a gym with two regulation sized basketball courts & locker rooms, music and art rooms, a café, and associated administrative space was constructed and the school commenced operations in the state-of-the-art facility in August 2012.  As a result, Nova was able to consolidate its two campuses and grow from 694 to over 950 students.

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