The substantial rehabilitation of the former Holloway Street School into the KIPP Durham Charter School (KIPP Durham) in 2016 created an academically rigorous college preparatory program. KIPP is a national network of 200 free, open-enrollment, college-preparatory public charter schools dedicated to preparing students in distressed communities. KIPP Durham is the fifth school in the KIPP Eastern North Carolina (ENC) network whose mission is to empower all students with the skills, knowledge, and character necessary to succeed in the colleges of their choice and strengthen their community.
The KIPP Durham School includes classrooms, an auditorium, a gymnasium, a multi-use courtyard, and school-related administrative offices. The renovation also features a new attached wing of approximately 6,900 square feet bringing the total project size to over 60,000 square feet. In addition to learning space, there are 60 on-site parking spaces for teachers and other employees at the school.
The project is located in a census tract that meets severely distressed criteria which qualified it for New Markets Tax Credits (NMTC), financed by NTCIC in addition to the federal Historic Tax Credit (HTC), brokered by NTCIC and financed by other financial partners. Due to the NMTC financing for KIPP Durham, the School has been able to receive below-market rent, one of the many essential aspects to allow the school to operate successfully.