MURFREESBORO, TN (WGNS) - A major student‑housing project at Middle Tennessee State University is officially moving from planning to construction. The Annex Group and MTSU announced that financing has closed for Womack Commons, a more than $56 million residential community set to rise on the northwest side of campus.

The deal wrapped up on Dec. 23 with the sale of $56,535,000 in tax‑exempt and taxable bonds issued by the Health and Educational Facilities Board of Rutherford County. As part of the transaction, the state of Tennessee and Madrone‑MTSU Student Housing LLC — a subsidiary of the Madrone Community Development Foundation — entered into a ground lease agreement. Raymond James served as underwriter, and BAM Capital acted as the bond issuer.

With the financial pieces now locked in, construction can begin immediately. The project is scheduled to open in summer 2027, just ahead of the fall semester, and is designed to serve as a new gateway to campus at the corner of Homecoming Drive and Blue Raider Circle.

Womack Commons will bring 554 beds in a mix of semi‑suite and suite‑style units, offering both private and shared bedrooms. The development replaces the aging Womack Lane Apartments, which were built nearly 50 years ago and house about 250 students. The new community will connect directly to nearby academic buildings, recreation facilities, parking, and a future residential village.

The Annex Group, a national impact‑housing developer focused on affordable, workforce, and purpose‑built student communities, is leading the project. It marks the company’s second public‑private partnership with a Tennessee campus after securing MTSU’s first P3 housing project last year. For Womack Commons, The Annex Group will serve as developer, general contractor, facility manager, and asset manager.

Inside, students can expect a staffed front desk, floor lounges, a community kitchen, laundry facilities, private and small‑group study spaces, a landscaped courtyard, and offices for MTSU’s residence life team. MTSU will handle leasing, assignments, and student support to keep the experience seamless.

Designed by Smith Gee Studios and SCB, the project aims to modernize on‑campus living while meeting the needs of a fast‑growing student population in one of Tennessee’s fastest‑growing counties.