The BankNote developers, Taconic Investment Partners, LLC and Denham Wolf Real Estate Services, announced plans to create a campus environment in a portion of the historical building that will be ideal for professional training programs and higher education institutions. Already home to two charter schools, The BankNote has flexible, customizable space ranging from 15,000 to 300,000 contiguous square feet. The building is ideally located close to transportation and is surrounded by established cultural and artistic organizations. Education plans include developing private entrances and collaborative education programs with current tenants and community organizations.
“Higher education and social development are the key components in the rebuilding and revitalization of New York City neighborhoods,” said Charles Bendit, co-CEO of Taconic Investment Partners. “We are pleased that we can support higher-level education in New York City by developing a campus setting in a section of The BankNote and further the city’s goals of advancing Hunts Point.”
“The south Bronx is experiencing a revitalization and we are pleased to hear that The BankNote is committed to bringing higher education opportunities to the area to foster the necessary growth of the community,” said Bronx Borough President Ruben Diaz Jr. “One of the goals of my administration is to partner with organizations to develop educational programs in every neighborhood, and this new campus could represent a great opportunity toward that goal.”
According to the New York City Department of Education, sharing space is central to New York City’s strategy for school improvement. Schools on campuses have the benefit of sharing facilities, creating collaborative programs and taking advantage of multiple school expertise, resources, colleague support and professional learning. More than 800 of New York City’s 1,626 schools share facilities, including small schools, specialized schools, charter schools, transfer schools, alternative learning centers and special education schools.
“The BankNote works well for customizing space for schools because of its large floor plates, ample space for separate classrooms, lots of natural light, private entrance potential, high ceilings, and location in the heart of a thriving cultural community,” said Paul Wolf, co-president of Denham Wolf Real Estate Services. “In recent months, we have seen an uptick in leasing interest from academic institutions coinciding with education-related activities in the building.”
Schools currently based in The BankNote include the J. V. Lindsay Wildcat Academy Charter School and a small Department of Education high school program. In addition, The BankNote hosts The Hunts Point Children’s Shakespeare Ensemble, a youth group sponsored by the Shakespeare Society and the Hunts Point Alliance for Children (HPAC) to study and rehearse The Tempest in the Garrison wing of the historic building. Sustainable South Bronx, an organization working to advance the environmental and economic rebirth of the South Bronx based in The BankNote, also conducts sustainable education programs and job training.
