Develop Fulton announced the approval of up to $144.46 million in revenue bonds Jan. 27 to finance a new 800-bed student housing facility serving Morehouse and Spelman College students in Atlanta’s West End neighborhood.
The bond issuance, expected to close in the third quarter of 2026, finances the construction of a student housing facility designed to meet the evolving needs of students and the surrounding West End community, the announcement says.
Behind the project
Designs for the roughly 450,000-square-foot development at 850 West End Ave. SW include a fitness center, study areas, community spaces with 290 residential units, a central green space, and a rooftop terrace.
Develop Fulton is Fulton County’s economic development authority, committed to driving investment, job creation, and sustainable growth. Officials say the investment in modern, high-quality student housing supports academic success, campus life, and long-term institutional vitality.
With unanimous support, the Develop Fulton Board of Directors approved a not-to-exceed $144.46 million investment in the project. The proposed development is financed through “a federally taxable and tax-exempt public offering of 501(c)(3) [nonprofit] revenue bonds.”
Develop Fulton’s announcement says Radnor Property Group is the developer of the project.
Nick Allen, director of public-private partnerships and partner at Radnor Property Group in Charlotte, said the company looks forward to successfully bringing the colleges’ residential goals to fruition.
“Radnor is thrilled to be part of this transformative student housing partnership that will enhance Morehouse and Spelman’s campus environments for generations to come,” Allen said.
Education-focused initiative
Spelman and Morehouse are two of Atlanta’s premier historically Black colleges (HBCUs). The men’s and women’s colleges are located between Dr. Martin Luther King Jr. Drive SW and I-20 just north of Atlanta’s West End neighborhood.
Beyond addressing student housing needs, the project is expected to generate around 350 construction jobs and 14 permanent full-time positions.
The announcement says the bond issuance reflects Develop Fulton’s ongoing commitment to responsible development strategies that support education, workforce growth, and community vitality while maintaining strong fiscal safeguards.
Develop Fulton Board Chair Kwanza Hall said the investment underscores the essential role that modern, purpose-built student housing plays in student success and institutional excellence.
“By supporting housing that serves Morehouse and Spelman students, Develop Fulton is helping strengthen Atlanta’s higher education ecosystem while advancing economic opportunity, without placing additional burden on taxpayers,” Hall said.
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