12/9/2019 | By Nareit Staff
Ventas, Inc. (NYSE: VTR) said it will donate nearly $9 million to support elementary and middle school education in Philadelphia.
The donation will be used to provide major funding for the design, construction, and development of a new K-8 public school facility to house two Philadelphia neighborhood public schools, the Powel Elementary School, and the Science Leadership Academy Middle School in West Philadelphia.
Funded through a combination of private and public capital secured by Drexel University and built on the former University City High School site on the western end of the University City (uCity) campus, the $40 million project will provide a state-of-the-art learning environment focused on inquiry, research, and collaboration for more than 800 local students.
“Ventas is highly committed to investing in the success of communities where we operate and providing opportunities that meet essential community needs in education, health, and the environment,” said Debra Cafaro, Ventas chairman and CEO.