Florida A&M University to Develop $80M Student Community
The project is part of a master plan that will add 4,000 beds to FAMU's inventory.
Florida A&M University has received the approval of The Florida Board of Governors for the construction of an $80 million, 700-bed residence hall on its Tallahassee, Fla., campus. Construction will start by March of next year, while completion is expected by August 2025.
FAMU’s Office of Facilities, Construction, and Safety will oversee the implementation of the project. Plans call for a $102.9 million loan from the U.S Department of Education’s Historically Black Colleges and Universities Capital Financing Program.
The student community will comprise 350 units with two-bedroom layouts, as well as community amenities on the ground floor. Some of the planned amenities include laundry facilities, conference rooms, study spaces and lounge spaces.
The project is part of a $238 million master plan that will add some 4,000 beds to the university’s campus. Currently, there are two more communities in the planning stages that are slated to comprise some 1,300 beds.
In the beginning of this academic year, there were roughly 2,700 on-campus beds available. In 2019, Florida A&M University partnered with Finfrock for the construction of another 700-bed student community that came online the following year. During the last academic year, the university purchased two communities, adding 234 beds to its inventory.
Earlier this year, FPA Multifamily has purchased a 1,557-bed student housing community in Tallahassee, Fla., for $68 million. That property is adjacent to Florida State University and some 3 miles from Florida A&M University.