Preston college students rally towards the closure after marching within the 2025 St. Patrick’s Day parade.
Photograph Sadie Brown
A beloved Catholic highschool within the Bronx has been spared from closure after the philanthropic arm of Bally’s Company reached a deal April 22 to buy the property.
Lawyer Basic Letitia James introduced that the Bally’s Basis, affiliated with the gaming large that seeks to develop a on line casino advanced at close by Ferry Level Park, will purchase Preston Excessive Faculty in Throggs Neck, securing the way forward for the all-girls establishment that has served the neighborhood since 1947.
“Our commitment to Preston is not about business — it’s about doing what’s right. Supporting institutions like this is central to our belief in being a trusted, long-term partner to the communities we serve,” stated Bally’s chair Soo Kim.
The deal marks a dramatic reversal by the Sisters of the Divine Compassion, who personal the property and beforehand rejected the identical provide from Bally’s in March. The Sisters had insisted the college would shut on the finish of the tutorial yr in June no matter outdoors help, citing unsustainable monetary pressures and declining enrollment.
However following sustained public strain from college students, mother and father, alumnae and native officers — together with a high-profile public listening to on April 9 led by James — the Sisters modified course and accepted the deal. James’ workplace, which has oversight over nonprofit property gross sales, wouldn’t say whether or not the Sisters would have confronted authorized motion for refusing the Bally’s provide.
“Preston High School is a pillar of the Bronx community that has educated generations of young women, and today I am proud to announce that the school will stay open for years to come,” stated James in a press release. “I want to thank all the students, teachers, parents, alumni, and elected officials who submitted testimony to my office and advocated to keep the school open. Today’s announcement would not have been possible without their relentless advocacy and leadership.”
Beneath the April 22 settlement, Bally’s Basis will buy Preston’s waterfront property for $8.5 million, lease it again to the college for $1 per yr on a 25-year lease with five-year renewals and pay as much as $1.6 million for infrastructure repairs and authorized and shutting charges. Preston can have the chance to buy sooner or later and proper of first refusal if the muse seeks to promote, and the college will proceed to function independently.
Beneath the brand new settlement, the Sisters may even be required to make sure Preston’s independence by establishing a brand new board and relinquishing its present three of six seats on the college’s Board of Trustees.
Elected officers who lobbied for Preston to remain open stated they had been relieved and grateful for the settlement.
“I want to extend my heartfelt thanks to Attorney General Letitia James for her swift and thoughtful action in helping to prevent Preston’s abrupt closure,” stated Metropolis Council Majority Chief Amanda Farías, a 2007 Preston grad, in a press release. “Her open communication, leadership, and commitment to keeping all parties at the table were instrumental in reaching this critical turning point. As a proud Preston alumna, I’ve been deeply invested in this fight from the very beginning – organizing, advocating, and working directly with stakeholders to ensure Preston had a future.”
Assemblymember Michael Benedetto stated he was “thrilled” that Preston will stay open. “This is a tremendous victory for the students, families, and the entire Throggs Neck community,” he stated.
“From the very beginning, when families and community members voiced their concerns about the possible closure of Preston High School, I made it a priority to listen and support them,” stated State Senator Nathalia Fernandez. “I’m truly grateful that Attorney General Letitia James took our concerns seriously and acted swiftly, resulting in an agreement to keep Preston open for years to come.”
Gibson thanked the Preston college neighborhood and residents for advocating that it stay open. “This outcome is a powerful reminder of what’s possible when a community comes together.”
In latest months, Preston supporters have held a number of rallies and launched a “Save Preston” social media marketing campaign, and a whole bunch attended James’ three-and-a-half hour public listening to that featured 25 audio system in help of the college. Preston’s well-known alum Jennifer Lopez posted on her Instagram Story on April 15 in help of her alma mater, saying she was “deeply moved” by these advocating towards the closure.
The deal comes years after the Sisters tried unsuccessfully beginning in 2019 to promote the property again to the college and decided Preston to be financially unviable on account of declining enrollment and the excessive value of property upkeep.
To those that love Preston, the settlement is a hard-fought victory. “We didn’t just preserve a beloved institution – we protected a legacy,” stated Farías.
The Bronx Occasions will replace this story later at the moment.
