The College Apartments are located at 112 North Boundary Street at the corner of Prince George Street and Boundary Street (the southwest intersection). William & Mary purchased two lots with buildings ("Blacksmith Lot") from Williamsburg Holding Corporation in 1930. Money from the John Burton Payne fund was used to construct a six-family apartment house, costing approximately $39,000. Income from the apartments was paid into the Payne Endowment Fund. Construction of the three story building, complete with four five-room and bath apartments, two four-room apartments, and 3 studio apartments, progressed satisfactorily and the faculty apartment house was scheduled for completion on October 1, 1941. However, construction was delayed through 1942 due to shortage of labor and materials but it was still fully occupied by then. The total cost of the College Apartments amounted to $47,305.37 including plans and supervision.
The College Apartments are now home to the American Studies program at William & Mary.