The River School
Project Type: Main Campus Acquisition & Development
Space Use: Education, Event, Office
Location: Washington, D.C.
Project Size: ~118,000 SF
Services Provided: Acquisition, Zoning & Entitlements, Design & Construction Project Management
The River School provides a premier education for children from 18 months through grade 3. With approximately 222 students and 70 staff members and plans for future growth, school leadership recognized that the existing facility would not meet its long-term goals. To address this challenge, The River School leadership team engaged JM Zell Partners to develop a strategic real estate plan that would align with operational, financial, and timing objectives, ultimately guiding the implementation of each associated phase.
To achieve The River School’s goals, JM Zell needed to execute multiple transactions while ensuring that the School’s current operations remained uninterrupted. Each transaction had to meet specific timing and financial criteria, all within the broader context of the overall real estate strategy.
JM Zell began this process with a comprehensive valuation of the existing school property on MacArthur Blvd. followed by detailed financial modeling and programmatic needs analyses for potential new locations. With a clear understanding of the School’s real estate requirements, JM Zell initiated a search for viable sites.
Focusing on targeted areas within Northwest Washington D.C., JM Zell identified potential acquisition targets, including raw land, change of use opportunities, and the retrofitting of existing facilities. For each option, we assessed overall viability by examining physical, legal, and financial factors. Ultimately, JM Zell identified a large residential estate, leading The River School to secure a purchase agreement to repurpose it into their new school campus.
In addition to real estate strategy development and brokerage services, JM Zell is also providing project management and consulting support related to purchase due diligence, zoning processes for change of use, design and construction project management, competitive bidding for the architectural and engineering teams, and early engagement with general contractors for cost estimating. Having JM Zell’s project management professionals involved from the inception of the project has enabled The River School to assess the viability of each option effectively, structure contract documents that allow sufficient time for zoning approvals, and align with fundraising efforts for anticipated capital requirements.
The River School has successfully obtained its zoning approvals, though it is currently addressing a recent appeal with which JM Zell is assisting. The project is now in the conceptual design and development phase with plans for the new facility to be operational by 2026.
If you are interested in learning more about how JM Zell can assist you in achieving your business and operations goals through real estate, please contact us here.