New School For Underserved Students Opens in Memphis

MEMPHIS, TN – Aspire Public Schools Memphis will hold a dedication and ribbon-cutting ceremony for the completed Aspire East Academy expansion project on Thursday, Aug. 24, at 9 a.m.  The $6 million project, which was financed by Boston Community Capital, HOPE (Hope Enterprise Corporation and Hope Credit Union) and Nonprofit Finance Fund, provides a permanent campus and will enable the school to grow to serve 450 students. 

Aspire East Academy, located at 6870 Winchester Road, is Aspire Public Schools Memphis’ fourth school. During its first year of operation, Aspire East Academy served 103 kindergarten and first-grade students, and during the 2017-2018 school year it will serve 194 students. The student population is 86 percent African-American; 12 percent Hispanic and 2 percent other. Aspire offers a rigorous, college-preparatory curriculum and operates schools in California and Memphis. Over the last eight years, 100 percent of Aspire’s graduating seniors have been accepted to four-year colleges and universities.

HOPE’s financing was provided through its Charter School Facilities Fund, which is designed to strengthen charter schools in the Mid South region of Arkansas, Louisiana, Mississippi and Tennessee, ensuring children in some of the nation’s most distressed communities have access to quality education in well-equipped, modern school facilities. The fund is facilitating the investment of at least $70 million over five years in the acquisition, rehabilitation and new construction of charter school facilities.

“A child’s address shouldn’t be an impediment to a quality education, but unfortunately in many areas across the country, that is a reality. The funding we’re providing to establish or support strong schools in these communities guarantees the opportunity for children to have access to the education they need to build a good life,” said HOPE CEO Bill Bynum.

The Aspire East Academy project included the build out of 22 classrooms, administrative offices, a cafeteria, library, multipurpose room and meeting spaces, as well as staff and student restroom facilities.