Milestones, closings, and openings.
Announcements from Madrone and its partner institutions, with links to coverage and official releases.
Park Avenue housing opens at the University of Memphis
The 542-bed apartment-style community developed by The Annex Group welcomed its first residents on the university's Park Avenue Campus, two years after the financing closed through the Health, Educational and Housing Facility Board of the City of Memphis.
Crimson Crossing opens at Florida Tech
The ribbon was cut on Crimson Crossing on August 12, and students moved into the six-story, 553-bed residence ahead of the fall semester. The approximately $96 million project — the largest single investment in student life in Florida Tech's history — expands on-campus housing by 27 percent.
$147 million financial close for 850 West End, serving Morehouse and Spelman
Radnor Property Group and Madrone Community Development Foundation reached financial close on the 793-bed combined student housing development in Atlanta's historic West End, with $146.8 million in bonds issued by the Development Authority of Fulton County on July 1. Occupancy is expected for Fall 2028.
Financing complete for Womack Commons at MTSU
Middle Tennessee State University announced the completed sale of $56.5 million in tax-exempt and taxable bonds issued by the Health and Educational Facilities Board of Rutherford County, financing the 554-bed Womack Commons — MTSU's first student housing public-private partnership. The financing closed December 23, 2025; the community opens Fall 2027.
MTSU selects its first student housing public-private partnership
Following a competitive procurement, Middle Tennessee State University and The Annex Group announced a public-private partnership to create a new student housing community, with Madrone serving as the project's nonprofit owner under a ground lease with the State of Tennessee.
Groundbreaking on the Park Avenue Campus at the University of Memphis
University leadership and project partners broke ground on the 542-bed apartment-style community — only the second project of its kind approved in Tennessee — developed by The Annex Group with Madrone as nonprofit owner. The community opened in August 2026.
Construction begins on Florida Tech's largest-ever residence hall
Financed through educational facilities revenue bonds issued by the Capital Trust Authority and developed by Servitas with CBG Building Company as builder, the six-story residence on Babcock Street began construction with Madrone – Florida Tech Student Housing I, LLC as nonprofit owner.
Approximately $73 million financing closes for University of Memphis housing
Approximately $70.9 million in tax-exempt and $2.2 million in taxable bonds were issued by The Health, Educational and Housing Facility Board of the City of Memphis to finance the new student housing community on the university's Park Avenue Campus.
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