The Hope Iron Furnace was built in 1854 and supported a community of about 300 to 400 people. Most of those who worked at the furnace lived in single-room log homes and were often paid in company script that was only good at the company store. The surrounding community served local farmers and tradesmen as well as iron workers, and nearby Zaleski had several prosperous businesses as the area boomed in the second half of the nineteenth century. The school district in the area took its name from the Hope Iron Furnace, and although the furnace ended operations in 1874, district enrollment grew until a new school was needed. On June 9, 1883, the Hope School district purchased a half-acre lot from Aaron Pinney for that purpose, and local craftsman George Bell built the schoolhouse. The one-room schoolhouse had one teacher for all grade levels; while one group worked with the teacher, the others worked quietly on assignments, helping one another and inspiring some to become teachers themselves. The school burned in 1931, possibly because kerosene spread on the wood floors during summer to keep dust down contributed to the blaze. Perry Pinney Sr and teacher Raymond Knox rebuilt the schoolhouse the following year. It continued in use until local students moved to Zaleski Elementary and the school closed in 1941. The schoolhouse was restored in 1988 and came to serve the community as a place for local civic events.