Building Hope and JKAFF Support Gem Prep’s Expansion to Rexburg

Building Hope, in partnership with the J.A. and Kathryn Albertson Family Foundation (JKAFF), is proud to support the continued growth of Gem Prep with the development of a new K through 12 public charter school in Rexburg, Idaho. The project will bring Gem Prep’s established college preparatory model to another Idaho community while creating new educational opportunities for hundreds of students and families.

Through its program related investment partnership with JKAFF, Building Hope Finance provided a $2 million loan to help fund the land acquisition and construction of Gem Prep: Rexburg. The financing supports an approximately $17.4 million school facility project designed to serve 574 students in grades K through 12.

Gem Prep has grown into a network of public charter schools serving communities across Idaho. Its educational model combines college preparation with personalized and blended learning, with a focus on preparing students with the knowledge and skills necessary to succeed after high school. The new Rexburg campus will allow the organization to extend that model to families in eastern Idaho.

The Rexburg investment also represents another chapter in a partnership between Building Hope and JKAFF that has helped make high quality charter school facilities possible throughout Idaho. For more than a decade, we have worked together to address one of the most significant challenges facing new and growing charter schools: securing affordable capital for their facilities.

Building Hope’s $2 million investment provides an important piece of the financing needed to move the $17.4 million project forward, helping Gem Prep secure the land and develop the permanent facility it needs to serve students. By providing flexible financing, Building Hope and JKAFF can help schools bridge financing gaps and leverage additional capital for major facility projects.

For Building Hope, the Rexburg project is about more than financing a building. It is another opportunity to use a proven partnership to remove facility barriers for a growing charter school network and help create 574 new student seats in an Idaho community.

Building Hope is proud to continue working alongside JKAFF and Gem Prep as the network expands its reach. Gem Prep: Rexburg demonstrates what can happen when philanthropy, specialized charter school financing and experienced education partners work together to turn plans for a new school into a long term home for students.