Morehouse, Spelman make $147 million student housing move

Morehouse College and Spelman College are making history once again. The two renowned HBCUs have officially closed on a $147 million financing package to develop the first-ever coeducational residential facility serving students from both institutions.

The landmark project represents one of the largest collaborative investments in the history of the Atlanta University Center, expanding much-needed student housing while redefining campus life through a shared living community. As enrollment continues to rise, the development underscores Morehouse and Spelman’s commitment to providing a modern residential experience that strengthens their decades-long partnership while preserving each institution’s unique identity.

The financing deal was finalized last month by Radnor Property Group and the Madrone Community Development Foundation, which sold approximately $146.8 million in tax-exempt and taxable bonds through the Development Authority of Fulton County. With financing now secured, construction is already underway on the West End Avenue development, and students are expected to move into the residence hall by fall 2028.

Located directly across from Morehouse’s B.T. Harvey Stadium, the development will feature 305 apartment-style units with 793 beds, offering studio, one-, two-, and four-bedroom layouts. Students will have access to a variety ofmodern amenities, including a 24-hour staffed lobby, fitness center, community lounges on every floor, bike storage, a dog run, and a central green space. Monthly housing costs are expected to average $1,200 per bed, approximately 3% below comparable off-campus housing in the surrounding area.

As part of the agreement, Morehouse and Spelman also established West End Avenue P3, a 50-year public-private partnership with Madrone to oversee the development and long-term operation of the residence hall. Beyond expanding housing opportunities for students, the project also represents a major investment in Black-owned businesses. Construction is being managed through a joint venture between Clark Construction and CD Moody Construction, one of the Southeast’s most established Black-owned construction firms.

The residence hall was designed by Moody Nolan, the nation’s largest Black-owned architecture firm. Together, these firms are leading the design and construction of one of the largest capital projects in HBCU history, making the development significant not only for its size but also for the representation of Black excellence throughout the project.

“Our steadily growing student enrollment fuels our collective need for affordable, near-campus housing,” said Undria Stalling, Morehouse’s chief financial officer, in a statement announcing the closing.

Dawn Alston, Spelman’s chief financial officer, described the partnership as proof of “what is possible when mission-driven partners” come together to serve students. Nick Waugh, president of Madrone, added that the development will allow students to “live next to campus, focus on their education, and fully engage in campus life.”

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