Fortec, a Miami-based real estate development company, has recently acquired a site in Barrington, Illinois, formerly home to the Barrington School District headquarters. The property, purchased for $695,000, encompasses a 1.49-acre plot with a 12,413-square-foot building located at 310 E James Street. This building, which served as the district’s headquarters from the 1970s until 2019, is slated for redevelopment.
Existing site at 310 E James Street via Google Maps
The redevelopment plan includes a $2.8 million investment from Fortec for renovating the existing structure and building a new playground. Scheduled to open in the summer of this year, the site will become The Nest School-Barrington. For this project, Fortec has secured a 17-year lease with The Nest Schools, a company specializing in holistic and “play-based” early childhood education with more than 50 other locations in nine states.
The revamped facility at 310 E James Street will be able to accommodate approximately 200 children, ranging in age from 6 weeks to 12 years. This initiative is also anticipated to generate 40 new job opportunities in the Barrington area.
Fortec’s chairman, Pablo Marcelo Barreiro, shared his views on the expected impact of The Nest School’s educational model. “We deeply believe in this project and the positive educational impact the school’s radically innovative educational programs will bring to the community,” stated Barreiro. “By introducing a leading operator like The Nest Schools, we are creating an environment that will serve and help enrich the lives of future generations.”
Subscribe to YIMBY’s daily e-mail
Follow YIMBYgram for real-time photo updates
Like YIMBY on Facebook
Follow YIMBY’s Twitter for the latest in YIMBYnews
I’m glad that YIMBY is covering suburban development, but why this particular project? Barrington also just approved a major residential redevelopment project downtown too.