ASU Prep faces uncertain future because of skyrocketing rent

Aug 2, 2018, 4:05 PM | Updated: Aug 7, 2018, 10:38 am
(Google Street View)...
(Google Street View)
(Google Street View)

PHOENIX — As students return to ASU Preparatory Academy in downtown Phoenix this week, there are concerns about the future of the school.

It’s all because the K-12 charter school and the Phoenix Elementary School District Governing Board are at odds with the lease. The district is seeking an annual lease that moves closer to the market value of $2.7 million, up from the $300,000 the Title I school pays now.

Beatriz Rendon, CEO of ASU Prep, said the school will continue operating this year and doesn’t want parents to be worried.

“I would assure them that this is going to be a great school year at ASU Prep,” Rendon said. “We are going to continue to provide the outstanding programming and continue to provide their students with the best education possible, as has been demonstrated in the past with our outstanding results.”

The board said it needed to increase the lease payment to keep up with the market value of the property.

“Arizona law requires the district to negotiate with potential lessees of the property to receive market value,” the board stated on its website. “Given the sustainable rise of downtown Phoenix and value of the property at this time, as good stewards of taxpayer dollars, the governing board must move forward to seek market value.”

The current lease agreement is set to terminate in June 2019. If no agreement is reached, the school would have to close or relocate.

Negotiations between the board and ASU Prep have been underway since April. Last Thursday, the Board voted to extend the negotiation period.

“They gave us 60 more days, so we’re going to work in good faith and as hard as we can to come to a resolution,” Rendon said.

She said the school has a proven track record of providing students with a high-quality education.

“At ASU Prep, our fundamental mission is to prep students for success in college, careers and life,” Rendon said.

“We have a track record of graduating 100 percent of our seniors and 100 percent of them go on to postsecondary success,” she added. “Those metrics alone are certainly well above the averages not just regionally and statewide, but also nationally.”

We want to hear from you.

Have a story idea or tip? Pass it along to the KTAR News team here.

Arizona News

Sarah Liguori was appointed to the vacant Arizona House seat for District 28 on Oct. 18, 2021. (sar...
Kevin Stone

Sarah Liguori appointed to fill Arizona House seat for District 28

Sarah Liguori was selected Monday to fill the Arizona House seat for District 28 vacated by Democrat Aaron Lieberman, who resigned last month to focus on his campaign for governor.
13 hours ago
(Twitter Photo/@ArizonaDOT)...

US 60 closed in West Valley because of cement truck fire

U.S. 60 in the West Valley was closed temporarily Monday during the noon hour because of a cement truck fire, authorities said.
13 hours ago
Mary Ann Friesen (Photo via Arizona Department of Public Safety)...

Silver Alert issued for missing Chandler woman who suffers from dementia

Authorities issued a Silver Alert on Monday for a missing Chandler woman who suffers from dementia.
13 hours ago
(Twitter Photo/ADOT)...

Fiery collision on Pima Freeway Loop 101 in Scottsdale leaves 1 dead

One person died in a fiery chain-reaction collision on a Valley freeway Sunday, authorities said.
13 hours ago
One Betta, a Dutch Shepard, sniffs a mask for the scent of COVID-19 at Miami International Airport ...

Arizona officials expect ‘unusually high’ COVID-19 death, case report Tuesday

The Arizona Department of Health Services didn’t add new cases or deaths to its COVID-19 dashboard Sunday or Monday because of a scheduled system update.
13 hours ago
(Photo by Justin Sullivan/Getty Images)...
Jim Cross

Average Valley home prices expected to reach $517K by late 2022, experts say

Home prices in metro Phoenix are still going up and real estate experts are projecting an average of $517,000 next year.
13 hours ago

Sponsored Articles


What you need to know about spine health

With 540 million people suffering from lower back pain, it remains the leading cause of long-term disability. That’s why World Spine Day on Oct. 16 will raise awareness about spinal health with its theme, BACK2BACK. “BACK2BACK will focus on highlighting ways in which people can help their spines by staying mobile, avoiding physical inactivity, not overloading […]
PNC Bank

3 cool tips to turn everyday moments into learning experiences for your child

Early brain development has a crucial impact on a child’s ability to learn and succeed in school and life. Research has shown that 90% of a child’s brain is developed by age five.

Grill like a pro this fall with tips from Albertsons

As the weather cools and football season kicks off, it’s a great time to fire up the grill and enjoy your favorite outdoor meals.
ASU Prep faces uncertain future because of skyrocketing rent