Amends title IV (21st Century Schools) of the Elementary and Secondary Education Act of 1965 to establish a new part D, entitled "the Promise Neighborhoods Act of 2015."

Directs the Secretary, under subpart 1 (Promise Neighborhood Partnership Grants), to award renewable, competitive, matching grants to institutions of higher education (IHEs), Indian tribes or tribal organizations, or nonprofit organizations to implement a comprehensive continuum of coordinated services and supports that engage community partners in improving the academic achievement, health and social development, and college and career readiness of children who live in distressed neighborhoods with persistently low-achieving schools or schools with an achievement gap.

Directs the Secretary, under subpart 2 (Promise School Grants), to award renewable, competitive, matching grants to high-need local educational agencies (LEAs) that partner with nonprofit organizations or IHEs, and to Indian schools that partner with nonprofit organizations or IHEs, to implement school-centered strategies and integrated student supports that leverage community partnerships to improve student achievement and development in schools with high concentrations of low-income children. Gives priority to applicants that propose to: (1) include significant investments in high-quality early learning programs, and (2) give schools the operational flexibility to carry out grant activities.

Requires part D grantees to evaluate their programs continuously and improve them based on data and outcomes. Directs the Secretary to use certain performance metrics to determine the eligibility of part D grantees for continued funding and renewal of their grant. Directs the Secretary to evaluate this part's grant programs and disseminate research on best practices for improving the academic and developmental outcomes of children living in our most distressed communities.