PrintFHLBank Atlanta Launches $10 Million Fund to Accelerate Completion of Affordable Multifamily Housing Across the Southeast
BY GlobeNewswire | AGENCY | 09:00 AM EDTATLANTA, May 11, 2026 (GLOBE NEWSWIRE) -- Federal Home Loan Bank of Atlanta (FHLBank Atlanta) today announced a?$10 million commitment through its 2026 Multifamily Housing Development Fund to help complete multifamily and mixed-use affordable housing projects across the Southeast.
Beginning June 1, FHLBank Atlanta member financial institutions and their community housing partners can apply for up to $500,000 per project to close funding gaps driven by rising construction costs. Applications will be accepted through June 30.
?This program addresses a critical need by helping developers finish projects that are already more than 50% complete but require additional capital to reach the finish line,? said FHLBank Atlanta CEO Reggie O?Shields. ?This is part of our broader $120 million commitment to affordable housing in 2026, with programs designed address the range of housing challenges that communities face, from increasing housing inventory to supporting homeownership through down payment assistance.?
To qualify, projects must reserve at least 80% of units for households earning up to 80% of area median income (AMI). Funds can only be used for hard construction costs, and projects must be scheduled for completion within 12 months of the application deadline. Eligible properties must be located within FHLBank Atlanta?s district: Alabama, Florida, Georgia, Maryland, North Carolina, South Carolina, Virginia, and the District of Columbia.
?This program has proven to be highly beneficial for communities, helping projects finish sooner than otherwise possible to expand affordable housing supply,? said Tomeka Strickland, FHLBank Atlanta?s Senior Vice President and Director of Community Investment Services. ?These grants can help projects to overcome delays and open their doors sooner to families.?
Members can learn more about the application process through webinars beginning May 13 on FHLBank Atlanta?s website.
About FHLBank Atlanta
FHLBank Atlanta offers competitively-priced financing, community development grants, and other banking services to help member financial institutions make affordable home mortgages and provide economic development credit to neighborhoods and communities. The Bank's members are commercial banks, credit unions, savings institutions, community development financial institutions, and insurance companies located in Alabama, Florida, Georgia, Maryland, North Carolina, South Carolina, Virginia, and the District of Columbia. FHLBank Atlanta is one of 11 district banks in the Federal Home Loan Bank System. For more information, visit our website at?www.fhlbatl.com.
Community Investment Services Contacts:
Joel Brockmann
Multifamily Portfolio Manager?
404.888.8156
jbrockmann@fhlbatl.com
Julia Brown
Director of Multifamily Programs
jlbrown@fhlbatl.com
404.888.8093
Media Contact:
Sheryl Touchton
Federal Home Loan Bank of Atlanta
stouchton@fhlbatl.com
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Image: Primary Logo
Source: Federal Home Loan Bank of Atlanta
