Spelman College Granted Approval in First Step to Finance New Residence Hall

Develop Fulton's board of directors voted unanimously in favor of the bond issuance

Spelman College took the first step in constructing a new 670-bed residence hall with cutting-edge technology infrastructure and vibrant communal spaces. The College was recently granted approval to issue up to $140 million in federally tax-exempt bonds to modernize student housing by the Develop Fulton Board of Directors.

Construction of the new 230,000-square-foot dorm is set to begin in May 2026, with a projected opening date of August 2028. Following construction, Spelman will demolish two older residence halls that lack mechanical ventilation and modern technology systems, paving the way for a more innovative and sustainable residential environment.

“This transformative campus expansion is part of our broader commitment to elevate the student experience, modernize infrastructure, and strengthen Spelman’s national leadership in higher education,” said Dawn Alston, CFO & senior vice president of Business and Financial Affairs at Spelman. “These upgrades to our campus living environment will allow us to better serve our students while honoring the institution’s legacy of academic excellence and innovation.”

The upcoming project demonstrates Spelman’s ongoing commitment to student-centered growth and will further support economic and community development in Fulton County.

“These actions underscore our Board’s commitment to thoughtfully investing in projects that will shape Fulton County’s future,” said Kwanza Hall, chairman of the Develop Fulton Board of Directors. “We are proud to support an initiative that will enhance Spelman’s iconic campus, promoting education, community vibrancy, and economic resilience.”