In March, the Invest Atlanta Board approved a $6 million Housing Opportunity Bond Fund to acquire land that will be developed into additional affordable housing in the city of Atlanta.

Metro Atlanta Land Bank, in coordination with the City of Atlanta and as a member of the Affordable Housing Strike Force, plans to strategically acquire property for the development of multifamily and single-family affordable housing. Developments will be located in the Hollowell corridor, Campbellton corridor, Thomasville and Downtown communities.

The goal is to serve families with the greatest needs, with affordability for rental properties available at 60% area median income (AMI) and below, while homeownership options will be available at 120% AMI and below.

“We are moving quickly because there are opportunities in the Campbellton corridor,” says Josh Humphries, senior housing policy advisor to Mayor Dickens. “The goal is to be nimble. We are positioning this for folks who want to build affordable housing. We don’t want to landbank the property forever, we want to help move that land and get housing built on it.”