Collegium buys two buildings in Exton area

Charter school purchases two Exton-area buildings

WEST WHITELAND » Collegium Charter School has purchased two buildings it had been leasing as part of its longterm planning.

The school paid $16.85 million for the 80,879-square-foot building at 150 Oaklands Boulevard and $11.15 million for the 60,444-square-foot building at 515 James Hance Court.

The acquisitions were made possible when the charter school with 2,800 K-12 students secured a $43.3 million bond, said Beth Jones, COO and acting CEO of Collegium.

The school also plans to add an arts center onto 515 James Hance Court.

“We hope to get shovels in the ground in six to eight months, but you know how construction projects can be” Jones said.

The sale is “seamless” for the students and the school’s 480 employees, Jones added. The school now has six

buildings in the corporate center, its only location. Students are in all but an administration building at 435 Creamery Way.

By purchasing the two buildings, Collegium said it will save tens of millions of dollars over the 30-year life of the bonds, as the bond payments will be stable and less than the annually escalating lease costs. The investment also will give its music and drama programs “a top-notch facility” for its arts and music programs, the school said in its announcement. “I’m pleased that this deal solidifies savings for years to come and will provide our accomplished students with an outstanding performance space,” said Collegium Board President Viktor Ohnjec.

With the latest acquisition, Collegium now owns four buildings in Oaklands. In addition to the buildings covered in this month’s acquisition, the school owns 535 and 500 James Hance Court. It leases buildings at 468 and 484 Thomas Jones Way.

Collegium Charter School is a tuition-free, independent public charter school. While enrollment is open to any student who resides in Pennsylvania, most Collegium families reside in Chester County, especially in the West Chester, Downingtown, and Coatesville school districts, the school says on its website.

It was only two years ago Collegium announced an expansion, adding 80,000 square feet by renting buildings at 468 and 486 Thomas Jones Way. At that time, the school had 2,400 students, according to a report in the Daily Local News.

SUBMITTED PHOTOS In these photos from the school’s website, a building Collegium Charter School has purchased is shown.

SUBMITTED PHOTOS In these photos from the school’s website, a building and a playground outside of it that Collegium Charter School has purchased are shown.