Invest Atlanta team members were onsite to celebrate the groundbreaking of two notable housing developments that not only support Atlanta’s affordability goals, but also contribute to vibrant, diverse communities.

According to Dr. Eloisa Klementich, president and CEO of Invest Atlanta, when families can access housing without a disproportionate financial burden, they can allocate resources toward education, healthcare and savings, leading to improved economic stability and opportunities for upward mobility. “By investing in affordable housing, we improve opportunities for upward mobility and long-term economic development,” says Eloisa. “Any day we break ground on an affordable housing project is a good day in my book.”

Below are the first two groundbreakings of 2025.

Sweet Auburn Grande

Sweet Auburn Grand is the site of a historic building built in 1908 that once housed the Atlanta State Savings Bank, the first Black-owned bank in Atlanta and Georgia’s first state-chartered Black bank. With financing help from Invest Atlanta and its housing partners, including $28 million in tax-exempt bond financing, $3 million in Housing Bond Opportunity and a $4 million Eastside Tax Allocation District (TAD) Grant, the building will be preserved and renovated to include 109 multifamily housing units – 92 of which will be restricted to serve 80% area median income (AMI) and below.

Metropolitan Place

A $37.5 million tax-exempt loan and a $2.9 million housing opportunity bond loan approved by the Invest Atlanta Board is financing the new construction of 176 affordable multifamily housing units and mixed-use development in the Perkerson neighborhood. All Metropolitan Place housing units will be available at 70% AMI or less with 36 units offered at or below 30% AMI.