Bridges Prep building new campus with $10 million loan
Bridges Preparatory School will renovate its campus in downtown Beaufort with a nearly $10 million loan from the USDA.
The U.S. Department of Agriculture's Rural Development program approved the $9,990,000 loan this week to convert the Boundary Street campus into a new K-8 school, buy additional property for future expansion and pay off its current note.
Design work is underway by a Hilton Head Island architectural firm, FWA Group, according to Dee Matthews, Bridges Prep board of directors chairwoman.
"We still have planning, engineering, traffic design and other studies to complete, along with stacks of paperwork -- but our new Bridges Prep campus is on the way," Matthews said. "... We have had the ability to stand on many shoulders to get to the finish line and we wish to express heartfelt thanks to all those who helped us reach this financial milestone, including parents, teachers and staff, school administrators, USDA representatives, and members of each of our school boards seated since we earned our state charter."
The loan, which had been in the works for several years, carries a maximum 3.625 percent interest rate.
The school's overhaul, though, comes amid a string of leadership changes, the latest of which resulted from the firing of its new principal in July after just 10 days on the job. Benjamin Rollins' contract was voided after the board discovered discrepancies and omissions on his resume.
The board then enhanced its search and screening process and brought on Robert Bohnstengel, a teacher and principal with 40 years of experience, to lead the school in the interim. Matthews says he has been asked to stay on through the end of the year.
The board plans to begin a national search for his replacement in the next month, and is choosing between three potential search firms to hire, Matthews says. She declined to say Thursday how much the school would pay the company since no contract has been finalized.
"This board has been very frugal," she said. "We watch our money carefully."
Bridges Prep was chartered by South Carolina in mid-2012 and opened at near capacity in August 2013. Since then, enrollment has grown by 42 percent. For the upcoming school year, the school will expand to ninth grade.
A groundbreaking ceremony for the new campus should be held this winter or early spring. Design and construction are expected to take about 18 months, Bridges Prep board member Marty Miley said.
Matthews said the school will not only accommodate many more students, it will blend better with the city's vision for downtown Beaufort.
"We want it to be something that's pleasing and attractive to downtown and the community as well," she said. "We want it to be something the communities down there are proud to have."
Follow reporter Rebecca Lurye on Twitter at twitter.com/IPBG_Rebecca.
This story was originally published October 1, 2015 at 9:50 AM with the headline "Bridges Prep building new campus with $10 million loan."