Bronx Catholic High School Saved from Closure by Bally's Foundation Deal

Preston High School Saved from Closure

• 🏫 Preston High School, an all-girls Catholic institution in the Bronx founded in 1947, faced closure at the end of the year.
• 🙏 Prayers were answered as the school has been saved from shutting down, thanks to a major benefactor.

The Deal with Bally's Foundation

• 🤝 The Sisters of Divine Compassion, who owned the property, initially announced the school's closure.
• 💰 Bally's Foundation has agreed to purchase the property for $8.5 million from the nuns.
• 💲 The foundation will then lease the property back to the school for $1 per year for the next 25 years.
• 💸 Bally's is also committing an additional $1 million towards much-needed renovations.

Community and Legacy

• 👨‍👩‍👧‍👦 Families were devastated by the initial closure announcement but were not defeated, reaching out to the state attorney general who brokered the deal.
• 💖 Preston High is described as more than just a school; it's a family that grows young women into strong individuals, with a rich legacy of multiple generations attending.
• 🎭 There is a noted irony that a casino company is stepping in to save the school, which the nuns would not allow to purchase the property.

Future Outlook

• ⏳ After 25 years, Preston High will have the option to renew their lease or purchase the property if they can raise sufficient funds.
• 💬 The chairman of Bally's stated their commitment is not about business but about doing what's right.