Boston’s Emerson College has purchased 2 Spruce St. in Boston for $4.9 million in order to establish an official residence for the school’s president.

The residence will provide living quarters for Emerson presidents and their families close to campus, according to a statement. The official residence is intended to help strengthen the college’s academic mission by creating a place in which presidents will interact informally with students, faculty, staff, alumni, trustees, overseers, donors, business and civic leaders.

The 7,348-square-foot building is in Boston’s Beacon Hill neighborhood. The lower floors of the property will be devoted to college functions, and the upper floors will serve as the president’s private living quarters.

The property was last assessed for $3.9 million, according to The Warren Group, publisher of Banker & Tradesman.

"Having a place where future Emerson presidents can meet with students, faculty and supporters of the college is critically important," said Jeffrey Greenhawt, chairman of the Emerson board of trustees. "Today’s college presidents work 24/7, and the board wanted to enable our future leaders to have a place close to campus where they can live as they strive to achieve their goals on behalf of the college."