Morehouse College Student Housing

Morehouse College, a private, all-male, Historically Black College and University (HBCU) in Downtown Atlanta, needed a new housing complex to facilitate its growing enrollment. Morehouse had credit available to initiate development, however the College lacked the management and investment capabilities to move forward.

Morehouse College approached TUFF to assist in developing the 375 bed student housing complex and TUFF agreed to undertake the investment. The project was financed using $20.7 million in tax-exempt bonds.  TUFF then ground leased the land from Morehouse, and entered into an agreement to convey the asset back to the College when the debt is retired.