Confluence Academies, a network of charter schools in St. Louis, is developing a funding package valued at $20.3m in order to buy the buildings where two of its schools are located. It recently purchased the building housing the Confluence Preparatory Academy.
The prep school was purchased from an affiliate of the St. Louis Public Library at a cost of $8.8m. Confluence made the decision to buy the building because it has been leasing the space for years. A purchase option was part of the lease, according to Justin Struttmann, the chief operating officer of the library. Candice Carter-Oliver, the CEO of Confluence, said buying the building, instead of continuing to lease it, made sense with regard to planning and financial stability. Officials in situations like this could use flyer printing to keep parents and students informed.
Confluence is also considering buying the buildings where its Grand Center Arts Academy is located. These properties are in the possession of companies associated with the Lawrence Group, and Steve Smith, a developer. Together, Smith and the Lawrence Group renovated the Sun Theatre, which is now leased to Confluence as a performance venue for students at the arts academy.
The two also renovated the 1928 Beaux Arts building, turning it into offices and classrooms for the academy. Confluence has been leasing this building since 2011, and may consider purchasing it, along with the building that was formerly home to Earthways Center of the Missouri Botanical Garden.
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