Atlanta leaders announce new affordable housing push, homeownership assistance program

Atlanta leaders are outlining new plans to expand affordable housing and help more families move toward homeownership. 

At Tuesday's State of Atlanta Housing event, Mayor Andre Dickens and Atlanta Housing CEO Terri Lee discussed new developments, public-private partnerships, and efforts to help families build long-term stability. 

Dickens said the work will take a collective effort. 

"Ain't no they, it's we," Dickens said. "We are building 20,000 units of affordable housing."

Atlanta Housing officials said the agency is now 88% of the way toward its 5-year goal of creating or preserving 10,000 affordable units. 

Lee said 8,830 affordable units have already been created or preserved across the city.

The push comes as metro Atlanta continues facing a housing affordability challenge. Metro Atlanta could need close to 400,000 new homes by 2035 as the region continues to grow, according to the Atlanta Regional Commission.

Kristin Allin, community development manager with the Atlanta Regional Commission, said much of the new housing being built does not meet the needs of many working families. 

"The market will provide housing for mostly higher-income people," Allin said. "Eighty-eight percent of the people who are in what we call the workforce are not typically supplied by this higher-priced housing that's being constructed."

Lee said Atlanta Housing currently provides rental assistance to more than 19,000 households and partners with more than 2,200 property owners. 

She also said 20,000 families remain on the agency's waitlist.

During the event, Lee announced a new down payment assistance program for eligible residents graduating through the Housing Choice Voucher Program. 

"So today, I am announcing that Atlanta Housing is creating a new down payment assistance program," Lee said. "We're going to enhance that to $60,000 for eligible participants."

Lee said the program is designed to help families transition from rental assistance into homeownership while also freeing up vouchers for other families waiting for help.

Atlanta Housing also plans to close 17 additional real estate transactions over the next year. Those projects are expected to add another 1,800 affordable housing units to the city.

Officials said several housing projects are expected to move forward within the next 90 days, including developments near the Beltline and in neighborhoods like Mechanicsville and Vine City. 

Leaders said the projects are part of a broader effort to increase affordable housing options for working families, including many making around $55,000 a year who are increasingly being priced out of the current housing market, while also expanding access to homeownership opportunities across the city.