A new elementary school and multi-use athletic facility for Tapestry Charter School is expected to be completed a year from now, by August 2018, school officials said during a groundbreaking ceremony Tuesday morning.
Tapestry is financing the $17.2 million project by issuing tax-exempt bonds through an affiliate of the Erie County Industrial Development Agency. Those bonds will also allow the nonprofit school to refinance $12.2 million in existing debt at lower rates, officials explained Tuesday.
"Not only does construction of these facilities on our current campus bring long-term financial stability to Tapestry, but it aligns with our greater strategic vision for growth and development," said Eric Klapper, Tapestry's executive director.
Tapestry kids helping with honorary first dig. pic.twitter.com/SOTTQ2oFfa
— Jay Rey (@jreybuffalo) August 8, 2017
Tapestry, a K-12 school that opened in September 2001, plans to construct a three-story building at 111 Great Arrow Ave. for its kindergarten through fifth-grade classes, which would move over from its current building adjacent to the site. That will open up more space to enroll students in the upper grades as demand grows.
Tapestry currently enrolls 825 students, but plans for more than 1,000.