Radnor Property Group and Madrone secure $147M for Atlanta Student Housing

Radnor Property Group, in partnership with Madrone Community Development Foundation, has secured financial close for a $147 million student housing development in Atlanta's West End neighborhood. The financing, which closed on July 1, 2026, involved the issuance of $146.76 million in tax-exempt and taxable bonds by the Development Authority of Fulton County (DAFC).

The development, located at 850 West End Ave, is situated near the campuses of Morehouse College and Spelman College. It will feature 793 beds across 305 apartment-style units, including studios, one-, two-, and four-bedroom layouts. Construction is slated to begin in July 2026, with occupancy expected by Fall 2028.

Amenities will include a 24/7 staffed lobby, outdoor recreation space, a fitness room, community lounges, and bike storage. The project aims to address the significant enrollment growth experienced by Morehouse and Spelman since 2020, providing much-needed on-campus or near-campus housing. Average rents are anticipated to be 3% below the off-campus market.

This development offers a modern, affordable, and convenient housing solution designed to enhance student well-being, academic success, and campus engagement. It represents a collaboration between the two institutions to meet growing housing demands and support their strategic objectives.