Development Authority of Fulton County Meeting Minutes January 2026
$144M Student Housing Bonds Approved for Madrone-MS
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Description
The Fulton County Development Authority approved a letter of inducement for Madrone-MS Student Housing I, LLC for up to $144.46 million in revenue bonds to finance a 450,000 sq ft student housing development serving Morehouse and Spelman College. The project is expected to begin in summer 2026 and be delivered by fall 2028.
Contract Details
Contract Amount
Up to $144,460,000
Vendor
MADRONE-MS STUDENT HOUSING I LLC
Agency
Housing Authority of Fulton, KY
Contract Type
OTHER
Document Date
January 27, 2026
Contract Term
Construction start summer 2026, delivery by fall 2028
Renewal Date
2028-09-30
Renewal Info
Initial approval; project expected delivery by fall 2028; no explicit renewal terms.
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