JPMorganChase has announced a $1.7 million grant to the Historic District Development Corporation (HDDC) to help increase access to homeownership and support the construction and sale of affordable homes for low-to-moderate-income households in Atlanta. The funding is part of JPMorganChase’s broader national effort to address housing affordability and comes alongside the release of its new report, "What Works: Atlanta’s Emerging Strategies for Affordable Housing," which aims to share lessons from Atlanta with other cities.
According to research by the JPMorganChase Institute, costs associated with homeownership in Atlanta have increased significantly, rising 60 percent relative to incomes since 2019. In that period, would-be homebuyers saw housing costs climb from 25 percent of income in 2019 to 40 percent in 2025. The grant is intended to support HDDC as it works on reducing barriers such as high housing prices, limited savings among renters, low availability of starter homes, and insufficient access to affordable credit.
“This grant from JPMorganChase is a game-changer for our organization and the communities we serve,” said Cheneé Joseph, Executive Director at HDDC. “With these resources, we can accelerate the development of affordable homes, empower renters to become homeowners, create lasting pathways to financial stability for families in Atlanta’s historic neighborhoods and enable families to build intergenerational wealth. We are grateful for JPMorganChase’s partnership and commitment to inclusive growth.”
Over the next two years, HDDC will use the funds for several initiatives targeting renters in Southside, Downtown, and Westside neighborhoods of Atlanta. These efforts include establishing a learning collaborative among up to five local affordable housing developers; developing tools for assessing tenants’ financial health; evaluating credit-building strategies; offering structured financial coaching; exploring microloans aimed at improving mortgage readiness; and creating a working capital fund that will be replenished through proceeds from renovated home sales.
“Homeownership is a critical pathway to building generational wealth, yet far too many Atlanta families face obstacles that keep this dream out of reach,” said Keith Fleming, Co-Chair of JPMorganChase’s Georgia Market Leadership Team. “Through HDDC, we can help more families access the resources, tools, and support they need to become homeowners and strengthen their financial futures. In doing so, we can create lasting, positive change for Atlanta in the process.”
JPMorganChase has provided over $560 million in financing—including loans and tax credit investments—for affordable housing projects in Atlanta since 2021. This investment has contributed toward creating or preserving nearly 5,000 homes across the metro area.
JPMorgan Chase & Co., headquartered in the United States with global operations, had $4.6 trillion in assets as of September 30, 2025. The firm provides services including investment banking and asset management under its J.P. Morgan and Chase brands.
The Historic District Development Corporation is known as Atlanta’s oldest surviving community development corporation focused on preserving historic neighborhoods through affordable housing development.