The Community Foundation for Greater Atlanta (CFGA) has announced grants totaling $100 million from the Robert W. Woodruff and Joseph B. Whitehead foundations in support of safe, quality, and affordable housing in Atlanta.

The grants are part of a $200 million public-private partnership with the City of Atlanta, which recently approved a measure authorizing $100 million in bonds to support what is described as a “first-of-its-kind program” to build and preserve 20,000 housing units across the city, which has a population of just under 500,000.

The grants to CFGA will be used for grants and low-cost loans to address growing housing challenges in underserved communities. Funds raised from the sale of the bonds will enable the city to expedite development of affordable housing on publicly owned land, preserve and subsidize existing affordable housing, and secure additional funding for shovel-ready projects.

“[W]e are moving with urgency to bring together all our partners, to have all hands-on deck, and make a lasting change in housing,” said CFGA president Frank Fernandez. “Our goal is to support better housing policies, programs, and significantly more production and preservation of affordable housing, so we can have neighborhoods and a city reflective of our values.”

“The stars are aligned to address the lack of affordable housing in Atlanta,” said Woodruff Foundation CEO Russ Hardin. “[We] are pleased to invest in the community foundation’s leadership and…are hopeful that the return on our investment will mean well-located, decent, affordable housing for more Atlantans.”

(Photo credit: Getty Images/Davel 5957)