The creation of specialty science, technology, engineering, and math (STEM) Schools has been presented as a way to improve both academic and STEM‐related outcomes, particularly in urban school districts where “failing” schools are converted the STEM Schools. This study examines this conversion process through the tenets of critical race theory, particularly the tenets of Whiteness as property, interest convergence, and the power of discourse. Using data collected from 28 textual sources and 29 interviews of teachers, students, and administrators at STEM Schools, a comparative case study approach was used to examine the historical development of two STEM Schools in one urban area. Findings indicated that the creation of STEM Schools was a way to protect STEM as a property of Whiteness by funneling resources toward White, middle‐class students. Additionally, the motivation for the conversions demonstrates how interest convergence functions in educational reform. In particular, the interests of White parents (to have access to high‐quality educational resources) and industry leaders (to develop a STEM workforce) temporarily converged with the interests of local families to improve neighborhood schools. However, ultimately, Black students and families, particularly those from lower socioeconomic status, were not served by the new STEM Schools.