Bridgeway Capital recently supported the Schenley Heights Community Development Program (SHCDP) with a predevelopment grant. The grant will help SHCDP transform the historic Madison Elementary School into a new base of operations for their afterschool programming.
“Bridgeway is helping us discover what new role this iconic building will have in the Hill District.”
– Dr. Carol Gee Davis, Executive Director, SHCDP
SHCDP is a prime example of grassroots community impact. The organization was formed in 1995 in the basement of Grace Memorial Presbyterian Church. The founders wanted to provide neighborhood children with an educational haven where they could access academic support and safely socialize outside of classrooms. Building on a decade of afterschool program delivery, SHCDP recently purchased the closed school and began planning for an expansion of services.
Renovation of Madison Elementary School marks a significant milestone for SHCDP. “The school enjoys a long and positive legacy in the community” observed Dr. Carol Gee Davis, SHCDP’s Executive Director. “Bridgeway is helping us discover what new role this iconic building will have in the Hill District.”
Lending to small businesses remains the center of Bridgeway’s approach. Funding community development projects is another method for improving the economic landscape of under-invested areas. “We’re excited that the project will help SCHDP offer services to more students, and we understand that repurposing abandoned assets tackles other tough challenges” states Mark Peterson, Bridgeway’s President and CEO. “Renovating Madison Elementary School will also facilitate job creation and and strengthen property values”