Dear Berkeley Academy Parents, Students, Families and Friends:
We hope this letter finds you all well! We are very pleased to see Berkeley Academy developing into Costa Rica’s most diverse student population that upholds our core values of honor, prestige and excellence. Currently, we have more than 33 countries and 12 languages represented in our student body, staff and faculty. Being exposed to multiculturalism by simply attending classes and engaging with students, staff and faculty has always been a vision of ours and we are thrilled to know that our vision is now a day-to-day reality.
The purpose of this letter is to inform our Berkeley Academy community about the status of moving to a new campus. As you know, we have had various setbacks since we initiated our school about seven years ago in August 2013. Beginning with investing a substantial amount of capital to secure land on the Escazu-Santa Ana border, only to see the investment dissolve due to the municipality of Escazu not approving or supporting construction. Thereafter, we surveyed various potential properties with the intent to move.
After more than six months of engaging in concrete discussions and negotiations with properties in the Santa Ana-Lindora area regarding our new campus, we received notice from top financial advisors that it would be prudent to hold off on any capital purchases or large investments in real estate within the next year due to the forecasted economic recession. Currently, the real estate market is reflecting the state of the economy as prices have stagnated at the end of last year (2019) and are starting to drop beginning this year (2020), specifically in the Santa Ana area.
In any case, whether or not a new home for Berkeley Academy becomes feasible or makes financial sense for this year, we would still require to have approximately half of our student population to remain on the current campus that we currently occupy in order to transition our school as seamless as possible. Therefore, as we await for either negotiations to find a feasible middle ground, prices of properties to lower, and financial institutions to make interest rates less daunting, we are improving our current campus to reflect a better environment for our current student population, led by Yorlenny Aguilar – Berkeley Academy’s co-founder and current Vice President/Director of Administration.
We continue to engage and negotiate with offers, potential projects and land acquisitions, but we understand that when the time and conditions are optimal for our school, Berkeley Academy will move forward with confidence. However, we will take cautious and calculated steps in this process to ensure the sustainability of our future success.
We appreciate your understanding and confidence in both our leadership and decision making in this lengthy and tedious process. We would also like to thank you for all the warm and positive comments that are communicated to our office. The tight-knit family environment that we experience everyday would not be possible without your support and confidence. We thank you for being a part of our community and family.
Very respectfully yours,
Peter J. Swing
Vice President, Co-Founder