Plymouth’s Rising Tide Charter Public School Expands Into Second Building With Help From MassDevelopment Loan
February 15, 2012
Kelsey Abbruzzese, MassDevelopment, 617-330-2086 & 617-448-9077
MassDevelopment has provided a $400,000 loan to Rising Tide Charter Public School (RTCPS), a Plymouth charter school that previously served 310 students in fifth through eighth grades. RTCPS added a ninth grade in September 2011 and plans to add the remaining high school classes over the next three years, increasing enrollment to 700 students. Loan proceeds will help the School’s expansion into its second leased facility on Armstrong Road. The School expects to create 24 jobs as a result of the project, and the loan was enhanced by a MassDevelopment charter school loan guarantee.
“MassDevelopment’s investment in RTCPS’s future will help the School prepare its new building for a college preparatory high school program,” said MassDevelopment President and CEO Marty Jones. “Thanks to this financing, more students will have the option to attend RTCPS’s small classes and benefit from its focus on critical thinking.”
Founded in 1998 with 162 students in fifth through seventh grades, RTCPS plans to have a full middle and high school by September 2014. The middle school will stay at its current leased location at 6 Resnik Road. RTCPS provides a strong academic program rooted in Plymouth’s history, and the School works to cultivate in its students a sense of belonging to the Plymouth community.
MassDevelopment, the state’s finance and development agency, works with businesses, nonprofits, financial institutions, and communities to stimulate economic growth across the Commonwealth. During FY2011, MassDevelopment financed or managed more than 300 projects generating investment of $3.8 billion in the Massachusetts economy. These projects are projected to create more than 10,000 jobs (2,547 permanent and 8,129 construction), and build or rehabilitate more than 1,000 residential units.