Great Oaks School, Bridgeport, Connecticut
BlueHub Capital provided a $2.5 million term loan to Great Oaks Bridgeport Charter Schools (Great Oaks) to finance tenant improvements to 70,000 square feet of space that is part of the broader redevelopment of Bridgeport’s American Gramophone Factory. In the 2017–18 school year, Great Oaks served 400 students in grades 6–9. The new building will enable it to serve those students through high school and admit 325 additional students. At full enrollment, Great Oaks will support a total of 725 students in grades 6-12. The founder of the Great Oaks Foundation, Michael Duffy, was a founding trustee and Board Chair of the MATCH School in Boston, BlueHub Loan Fund's earliest charter school loan (under the name Boston Community Loan Fund), and one of the highest-performing schools in Boston. BlueHub Loan Fund is supporting this loan with Department of Education Credit Enhancement. The school is adjacent to the affordable housing included in the Cherry Street Adaptive Reuse Redevelopment Project. Great Oaks intends to serve current and new students from that community and to contribute to the revitalization of the neighborhood.