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CGI Merchant Group Hospitality Fund To Invest In Atlanta HBCU Morris Brown College With $30 Million Hotel Development Project
March 1, 2021 GMT
ATLANTA, March 1, 2021 /PRNewswire/ CGI Merchant Group, LLC (CGI) a minority-owned global investment management firm with a focus in real estate and private equity announced today it will make a $30 million investment in the historic Morris Brown College to convert existing facilities into a 150-key upscale hotel and hospitality management training complex. Construction of the 90,000-square-foot state-of-the-art facility is expected to begin later this year.
Mar 2, 2021 10:29am
Construction of the 90,000-square-foot hotel and hospitality management training complex at Morris Brown College is expected to begin later this year. Photo credit: Morris Brown College
CGI Merchant Group, a minority-owned global investment management firm with a focus in real estate and private equity, will invest $30 million in the historic Morris Brown College to convert existing facilities into a 150-room upscale hotel and hospitality management training complex. Construction of the 90,000-square-foot facility is expected to begin later this year.
This project makes Morris Brown the only Historically Black College and University nationwide with both a flagged hotel and a hospitality management training program on its campus. The hotel will join the Tapestry Collection by Hilton. The property will have two food-and-beverage outlets, an outdoor terrace and instructional space for the school’s hospitality students. The venture marks another milestone
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Colleges to house new center that trains Black entrepreneurs By CHRISTINE FERNANDO, Associated Press
Published: February 28, 2021, 6:02am
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2 Photos FILE - In this April 12, 2019, file photo, people enter the campus of Morehouse College in Atlanta. A new center for training Black entrepreneurs will be opening in Atlanta as part of a collaboration announced Monday, Feb. 22, 2021, between Spelman College, Morehouse College and an advocacy organization made up of business leaders. (AP Photo/Mike Stewart, File) Photo Gallery
CHICAGO A new center for training Black entrepreneurs will be opening in Atlanta as part of a collaboration announced Monday between Spelman College, Morehouse College and an advocacy organization made up of business leaders.
Feb 23, 2021
CHICAGO (AP) A new center for training Black entrepreneurs will be opening in Atlanta as part of a collaboration announced Monday between Spelman College, Morehouse College and an advocacy organization made up of business leaders.
The Center for Black Entrepreneurship is expected to start operating for the fall 2021 semester. Details of the collaboration were shared with The Associated Press ahead of the announcement.
“In 2020 we saw an acknowledgement from many in the investor community that there needs to be a change, that we need to take a look at these barriers and how they are preventing talented aspiring Black entrepreneurs from reaching their full potential,” said David Clunie, executive director of the Black Economic Alliance, the advocacy group involved. “We need to give them the education, resources and opportunities they need to really succeed.”