$18M New Markets Transaction
TOTAL PROJECT COST
Old National Bank
BMO Harris New Markets Fund
Old National Bank
St. Augustine Preparatory Academy (Aug Prep), a high-performing K4-12 non-denominational Christian school, will support the development of a dedicated elementary school with capacity for 900 K4 through 5th-grade students.
The 123,000 square foot new elementary school building is designed to emphasize Aug Prep’s four pillars of faith, family, academics, arts/athletics. It will include state-of-the-art classrooms and special education spaces along with a full-sized gymnasium, a small gym, a rooftop garden, a playground, and a performing arts center with seating for 700. In addition, Aug Prep will expand its current space by 5,000 square feet to include larger athletic facilities and a family engagement center, along with updated classrooms. As a result, Aug Prep’s total capacity will grow to serve 2,400 students, making it the largest single-campus school in Milwaukee.
Originally opened with 560 students, Aug Prep has grown to serve almost 1,500 predominantly low-income students of color in just five years. Since its opening, crime in the area has dropped by more than 43 percent, per data from the Milwaukee Police Department.
Aug Prep scholars’ academic performance significantly exceeds expectations, earning it a five-star rating – the highest possible – by the Wisconsin Department of Public Instruction. As a result, Aug Prep is in the top 2% of all schools in the city (#6 of 264 total schools) and scores the highest among schools that serve grades K4-12 in the State of Wisconsin.
“As we help our scholars achieve their highest potential, we are reminded of the positive ripple effect strong schools have on communities.”
Chief Executive Officer