This month, the City of Atlanta Department of Finance closed a $50 million housing bond transaction to help advance the goals of the One Atlanta: Housing Affordability Action Plan – paving the way to continue creating and preserving 20,000 affordable homes by 2026.

The bond closing is the result of affordable housing legislation passed by the Atlanta City Council in January 2021, enacting the Mayor’s Executive Order to invest $50 million in new bonds for affordable housing. The $50 million bond will enable the City to issue $100 million in housing bonds to fund the 2021 Housing Opportunity Program to help achieve the Mayor’s commitment to invest $1 billion for affordable housing production and preservation by 2026.

Funds will be used to support a range of affordable housing programs, including the creation of multifamily, small multifamily, single-family and permanent supportive housing, as well as homeownership, land/property assemblage and acquisition and other housing strategies.

Invest Atlanta conducted three 2021 Housing Opportunity Bond stakeholder virtual work sessions, providing the public, as well as nonprofit and small real estate developers, an opportunity to learn about the program, funding eligibility and proposed guidelines.