Morehouse College and Spelman College are moving forward with a $147 million student housing development that will bring students from the two historically Black institutions into a shared residential community for the first time.
The project also places two established Black-owned firms in major design and construction roles. Atlanta-based C.D. Moody Construction is working in a joint venture with Clark Construction as construction manager, while Moody Nolan, the country’s largest Black-owned architecture firm, is serving as architect.
Located at 850 West End Avenue near the Morehouse and Spelman campuses, the development will include 793 beds across 305 apartment-style units.
Financing closed on July 1, 2026, through the sale of approximately $146.8 million in tax-exempt and taxable bonds issued by the Development Authority of Fulton County. Construction is scheduled to begin in July 2026, with occupancy expected in fall 2028.
The project represents a major expansion of student housing within the Atlanta University Center and a significant assignment for two Black-owned firms with deep experience in higher education, institutional construction and HBCU campuses.
A shared residential community for two historic HBCUs
Morehouse and Spelman are separate single-gender institutions, although their students have long shared courses, programs and cultural traditions through the Atlanta University Center Consortium.
The new development will create a jointly affiliated housing community designed for students from both colleges. According to the project announcement, it will be the first shared residential environment developed for the two institutions.
The planned apartments will include studios and one-, two- and four-bedroom configurations. Amenities are expected to include a 24-hour staffed lobby, fitness facilities, study rooms, community lounges, bicycle storage, a dog run, outdoor recreation space and a central green.
Morehouse and Spelman have both experienced enrollment growth since 2020, increasing the need for housing close to their campuses. The colleges are seeking to house between 75% and 85% of students through campus-owned or affiliated residences. The developers said rents at the new community are projected to average approximately 3% below comparable off-campus housing.
“This project is an investment to enhance our students’ residential experience, which directly contributes to their academic success and persistence to graduation,” said Undria Stalling, chief financial officer and senior vice president of business and finance at Morehouse.
Stalling said enrollment growth has created a collective need for affordable housing near campus and described the development as a place where future students can “live, learn, and grow.”
Dawn Alston, Spelman’s chief financial officer and senior vice president of business and financial affairs, said the partnership reflects the college’s investment in campus facilities, student support and residential life as enrollment expands.
C.D. Moody Construction returns to Morehouse
C.D. Moody Construction will deliver the project through a joint venture with Clark Construction.
Founded in 1988 by C. David Moody Jr., the Black-owned general contracting and construction management company has completed more than 200 commercial projects representing over $4 billion in combined value, according to the firm. Its portfolio includes the Olympic Stadium, the Federal Reserve Bank of Atlanta, Mercedes-Benz Stadium, Philips Arena and several Morehouse projects.
The assignment also carries a direct alumni connection.
Moody graduated from Morehouse College in 1978 with a degree in psychology before earning a professional architecture degree from Howard University. He later established his construction company in Atlanta, beginning with a three-person operation involved in the Underground Atlanta development.
The firm has previously built student housing at Morehouse, including a five-story residence hall with 326 beds, study areas, lounges and a campus green. C.D. Moody Construction also worked on the college’s Ray Charles Performing Arts Center.
The new West End Avenue community extends that relationship through one of the largest current investments in the physical infrastructure surrounding the two colleges.
Moody Nolan brings decades of HBCU design experience
Moody Nolan is serving as architect for the project.
Established in 1982, the firm describes itself as the largest Black-owned design practice in the United States. It has approximately 300 employees working across 12 offices and became the first African American-owned firm to receive the American Institute of Architects’ Architecture Firm Award in 2021.
Its work with historically Black institutions includes 74 projects across 35 HBCU campuses. The firm also reports employing 20 HBCU graduates and has designed academic buildings, research facilities, student centers and residential communities for institutions including Morgan State University, Texas Southern University, Alabama A&M University, Howard University and Meharry Medical College.
Moody Nolan founder Curt Moody previously described the firm’s HBCU work as an opportunity to provide the mentorship and professional visibility he lacked early in his own architectural career.
“We want to be role models for the young design students at HBCUs and create opportunities for them to establish themselves in the industry,” he said.
For Morehouse and Spelman, the firm will be responsible for translating the colleges’ joint housing objectives into a residential environment serving nearly 800 students.
How the $147 million project is structured
Radnor Property Group is leading the development in partnership with the Madrone Community Development Foundation.
The Development Authority of Fulton County issued the bonds and will lend the proceeds to Madrone-MS Student Housing LLC, a Madrone subsidiary. Morehouse and Spelman formed West End Avenue P3 LLC, which has entered into a 50-year lease agreement with Madrone.
The broader project team includes Pape-Dawson as civil engineer. Raymond James and Black-owned investment bank Loop Capital Markets served as underwriters for the bond financing. Brailsford & Dunlavey advised the colleges, Kutak Rock served as bond counsel and Hilltop Securities acted as financial adviser.
David Yeager, CEO and managing partner of Radnor Property Group, described the development as a model for how institutions can combine their resources to provide modern and affordable residential facilities.
The finished community will bring together capital markets, institutional real estate development and HBCU infrastructure investment. It will also place Black-owned architecture and construction firms in central roles in shaping the next phase of two of the country’s most prominent historically Black colleges.
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