DeMedici II Will Buy Former GlaxoSmithKline Building For New String Theory School

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Map of Pennsylvania highlighting Philadelphia County (Photo credit: Wikipedia)

A new performing arts charter high school says it has sealed a deal to open in the fall at GlaxoSmithKline‘s former North American headquarters at 16th and Vine Streets.

Under terms that will be announced Thursday, a nonprofit associated with the Philadelphia Performing Arts Charter School has agreed to buy the curving, eight-story building for $29 million for the String Theory High School for the Arts and Sciences.  It will be the first charter high school in the city focused on the performing arts.

The nonprofit, DeMedici Corporation II, expects to finance the property with tax-exempt bonds from the Philadelphia Authority for Industrial Development (PAID), according to Mary D’Anella, spokeswoman for String Theory Schools, which manages the charter.

“It’s the most exciting high school this city has opened in a generation,” said Angela Corosanite, chief executive officer of the nonprofit String Theory, and founder of it and the Philadelphia Performing Arts Charter School.

Read more:  http://www.philly.com/philly/education/20130328_DeMedici_II_will_buy_former_GlaxoSmithKline_building_for_new_String_Theory_School.html

Chester-Upland School District May Run Out Of Cash

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CHESTER, Pa. (AP) — Nearly two decades after being declared financially distressed, the school system in this struggling Philadelphia suburb faces a new and even more daunting crisis: It may run out of cash.

Administrators in the Chester Upland School District, one of Pennsylvania’s poorest systems and once the center of a failed experiment in school privatization, say they won’t be able to make payroll Wednesday unless the state advances the district $18.7 million in expected funding. While teachers and staff have vowed to continue working, the situation has thrown the system into new turmoil and has parents scrambling for other options.

Hoping to avoid a shutdown, the school filed a lawsuit Thursday, declaring a “cash-flow crisis” and asking a judge to tell state Education Secretary Ronald Tomalis that he must act to provide students in the district with a “thorough and efficient educational system.” Meanwhile, anxious parents are looking at other options for their children, such as sending them to private schools or having them live with relatives and go to other public schools.

Read more: http://www.timesherald.com/article/20120115/NEWS03/120119722