Contact Us 850-466-1029
Menu / Navigate

Florida’s charter school real estate boom

With the backing of Florida state leaders, the market for charter schools looks to expand with investors eager to get into the market. An industry that largely relied on rental properties to house teachers and students is now seeing opportunities for building ownership.

While considered public schools, charters are private managed and operate according to a contract with the local school boards. Each school has their own Charter Management Organization that oversees operations. Lately, those organizations have met with prospective real estate investors looking to assess their health and stability.

According to the Florida Department of Education, 654 charter schools in the state serve more than 282,000 students. The numbers are expected to grow as Governor Rick Scott signed an education bill that will convert 100 low-performing traditional public schools into charters.

Seventy-five million dollars funded the state’s current roster of charter schools with the same amount divided among approximately 3,600 K-12 public schools. Critics see that as charters siphoning away funds from more traditional educational institutions. Supporters say that charter schools are booming for one simple reason. Parents want them.

Real estate investors play an important role in charter schools. Their financial largesse can replace the lack of state funding to build new schools. For start-up charters, construction is not the best use of their capital. Private financial backing can give charters the breathing room to spend available funds on teacher salaries instead of construction costs.

Charter schools may be entering a new era. Buying is replacing the common practice of renting. Previously, owners of rental properties found themselves with a building specially purposed for education after a charter school closed, a common fate for many of these institutions. Selling the customized property presented challenges.

Ownership of buildings affords charter schools the opportunity to buy back or refinance the properties, putting them on more sound financial footing to continue to do what they do best.

No Comments

Leave a comment
Comment Information

Contact

Pensacola Office
212 W. Intendencia Street
Pensacola, FL 32502

Phone: 850-466-1029
Fax: 850-433-5409
Pensacola Law Office Map

Perdido Key Office
13700 Perdido Key Drive
Suite# 223
Perdido Key, FL 32507

Phone: 850-466-1029
Fax: 850-433-5409
Map & Directions

Ft. Walton Beach Office
1992 Lewis Turner Boulevard
Ft. Walton Beach, FL 32547

Phone: 850-466-1029
Map & Directions

Contact The Firm

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Back to Top