Invest Atlanta, the city's development authority, said it has approved more than $30 million in funding for four housing projects as part of a broader plan to provide 20,000 affordable units by 2030.
The agency's board signed off last week on developments that will provide a mix of for-sale and rental units.
"We want to meet people where they are," Invest Atlanta President and CEO Eloisa Klementich told Homes.com. "Homeownership is the path for many people to wealth and wealth generation."
The lack of affordable housing has been a concern nationally as record home prices and elevated mortgage rates shut consumers out of the market.
Between July 2024 and June 2025, the share of first-time U.S. homebuyers declined to 21%, according to a National Association of Realtors' survey released this month. It was the lowest share of first-time buyers ever recorded by the survey that launched in 1981.
Among the Invest Atlanta projects, the first phase of Hollywood Place in the Almond Park and Grove Park neighborhoods will feature 121 for-sale townhouses and 292 multifamily units with retail space, according to the agency.
Hollywood Place also will have a trail that connects the development and adjacent neighborhoods to Center Hill Park, Donald Lee Hollowell Boulevard and eventually the Proctor Creek Trail and Atlanta Beltline, Invest Atlanta said.
The other projects are:
- The first phase of Carey Park that would include 70 single-family homes, 45 of which will be eligible to residents with annual household incomes ranging from 80% to 120% of the area median income;
- The conversion of six market-rate townhouses into affordable units for sale in a 35-unit townhouse development on Tucker Avenue in the Oakland City neighborhood; and
- The refurbishment of 196 rental units at Ashley Collegetown in the West End neighborhood. Originally built in 2005, the units will be available for residents who make between 30% and 80% of the area median income.
As the city seeks to add more affordable units in the years ahead, about 400 parcels among 870 city-owned acres could potentially be used for housing, Klementich said. The city also is working to retain so-called legacy residents by helping them make repairs to their homes, she noted.
"We want them to be able to stay in the city of Atlanta if they so choose," Klementich said.