This publication describes the creation of a new school building for James F. Oyster Bilingual Elementary School in Washington, DC. Despite the success of its academic program, the school's 70-year-old building had become unsafe and unsuitable for teaching and learning and was threatened with closure in 1993 because of the district's fiscal crisis. This publication discusses how the 21st Century School Fund, working with the Oyster Community Council (the school's PTA), the local school restructuring team, the principal, and neighborhood residents, formed a public-private partnership that saved the school and increased city revenue. The District of Columbia agreed to divide the school property in half to make room for a new school and a new residential development. They also agreed to dedicate property taxes and revenue from the sale of the land to repay a revenue bond. In exchange, LCOR, the private developer of the new 211-unit apartment building, agreed to design and build a new school and repay the Oyster revenue bond. (EV)