An expensive New York-based private school attended by children of high-profile families is opening up a Silicon Valley location.
Avenues: The World School purchased an office building on the corner of Meridian and Parkmoor avenues for a new San Jose campus,. The school paid $27.1 million cash for the 77,000-square-foot building.
“San Jose embraces innovation and has an ethos and DNA that aligns with Avenues and our quest to redefine what a school can be. We hope to benefit the community for generations to come,” Tara Powers, a spokesperson for the school, told San Jose Inside.
Powers said the school plans to open in 2021.
The for-profit school will accept students ages 2 to 18—but it has a hefty price tag. Tuition runs $56,400 per year, according to the school’s website. Avenues also has schools in Brazil and China, as well as an online program.
Although Avenues does not have a tuition price set for the San Jose campus yet, Powers said it will be in line with its other locations. Powers also pointed out that the school has doled out more than $11 million in financial aid for 300 students this year.
“Part of our mission statement is to ‘share our prosperity with those who need it,’” Powers said, referring to Avenues’ financial aid program.
Avenues opened up its first campus in the Chelsea neighborhood of Manhattan in 2012, catering to children of wealthy bankers, lawyers, entrepreneurs and even celebrities. Most famously, Suri Cruise, the daughter of actress Katie Holmes, is enrolled there.
The school was founded by media and education entrepreneur H. Christopher Whittle, former Esquire magazine publisher Alan Greenberg and the former Yale president Benno C. Schmidt Jr. They raised $85 million from private equity funds to start Avenues.
The curriculum emphasizes a “global” education, requiring that students become fluent in a second language. The school’s mission statement also says students should be “emotionally unafraid and physically fit” and “architects of lives that transcend the ordinary,” according to its website.