- Bond proceeds will help build student space with ocean views
- Students pay $32,950 to attend former governor’s alma mater
The elite Catholic high school that educated former California Governor Jerry Brown plans to tap the municipal bond market to raise $132 million to spruce up its 11-acre San Francisco campus.
St. Ignatius College Preparatory, a private high school just blocks from the Pacific Ocean has plans to build a new 165,000 square-foot learning complex complete with classrooms, gardens, cafes and the campus chapel. The so-called New Learning Commons will cost an estimated $185 million, most of it funded by municipal bonds, in a deal slated to price on July 17. The remaining financing will come from donations and its endowment, among other funds, according to preliminary bond documents.
“Our existing facility was built in 1969, and it’s time for something new,” said Ken Stupi, the school’s vice president of finance and administration in an interview. “We need the space.”
Bloomberg Markets
By Maggie Eastland
July 11, 2024