The first of a new breed of elite private school opens its doors

The Economist:

What's Mandarin for "School's out"?

THE first time he tried to create the "next generation of schools", back in the early 1990s, Chris Whittle's focus was on improving the education of the poorest pupils in America's worst-performing public schools. Although in doing so the perennially bow-tied entrepreneur from Tennessee helped pioneer the charter-school movement, his Edison Project ultimately failed to thrive as a business. Now, with Benno Schmidt and Alan Greenberg, he is trying to reinvent education for bright, rich kids. On September 10th "Avenues: The World School", the first of a planned global network, will welcome 700 pupils into a lavishly converted warehouse next to Manhattan's popular High Line park. Their parents will typically pay just under $40,000 a year (in line with New York's established top-tier private schools), having been promised cutting-edge technology and everything else to match.

Getting this far has not been easy for Mr Whittle, who says he has had to become "one third educator, one third real-estate developer, and one third investment banker." After conceiving the idea in 2007 of creating a chain of similar schools in the world's leading cities, the financial crisis robbed him of funding, a business partner and the intended first Manhattan site. Eventually he raised the $75m needed to get the first school up and running, found another site, and then toured the world to recruit staff and pupils. Many of the teaching staff have previously worked at other elite east-coast private schools, including Phillips Exeter, Hotchkiss and Dalton. (Even more gratifying than the 2,600 applications to attend Avenues were the 4,900 applications it received to teach there, says Mr Whittle.)

Posted by Jim Zellmer at September 2, 2012 4:18 AM
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