JPMorganChase awards $1.7 million to Historic District Development Corporation to expand pathways to homeownership in Atlanta

JPMorganChase today announced it is awarding $1.7 million to Historic District Development Corporation (HDDC) to support innovative strategies that expand pathways to homeownership and accelerate the construction and sale of affordable homes for low-to-moderate-income (LMI) households in Atlanta. The grant is part of JPMorganChase’s national strategy to help increase the availability of homes and expand homeownership opportunities to households across the income spectrum and coincides with the release of JPMorganChase’s new report, "What Works: Atlanta’s Emerging Strategies for Affordable Housing." The report shares practical insights and early strategies from Atlanta’s experience to help other cities strengthen their own affordable housing efforts.

Access to affordable housing is a cornerstone of thriving communities—yet in Atlanta, like many cities in the U.S., rising costs and limited supply have made homeownership and stable rental options increasingly out of reach. According to the JPMorganChase Institute, homeownership costs in Atlanta rose 60 percent relative to incomes, as the cost for would-be homebuyers increased from 25 percent of income in 2019 to 40 percent in 2025. This grant will bolster HDDC’s efforts to address this and other persistent barriers to homeownership—including high housing costs, limited savings, low inventory of starter homes, and inadequate access to affordable credit. By supporting place-based affordable housing developers, HDDC aims to increase mortgage readiness of renters and increase the supply of affordable homes.

“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.”

Financial tools and support for Atlanta’s next homebuyers

Over the next two years, the program will implement a series of activities designed to build capacity among local nonprofit developers and increase access to financial health tools for existing renters in Atlanta’s Southside, Downtown, and Westside neighborhoods. Specifically the program will:

• Establish a learning collaborative: HDDC will convene up to five place-based affordable housing developers to share best practices and develop joint strategies for supporting tenants’ homeownership readiness. Participating organizations will receive working capital to advance these initiatives.
• Develop tenant financial health assessment tools: The collaborative will design a shared methodology for assessing tenants’ financial health, including income stability, savings, debt load, and credit scores.
• Evaluate credit-building strategies: HDDC will access credit-building tools and share them with the collaborative partners to strengthen potential buyers’ credit profiles and improve access to mortgage products.
• Offer structured financial coaching: The collaborative will work with partners to offer tenants structured financial coaching and connections to homeownership resources.
• Explore credit-building microloans: The program will explore offering credit-building microloans to help renters overcome barriers to mortgage readiness.
• Establish a working capital fund: The grant will also help establish a working capital fund to accelerate the construction of homes for purchase. The fund will be replenished with the sale of each renovated home and the funds reinvested in additional properties.

“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.”

Affordable housing financing

As one of the nation’s leading affordable housing capital providers, JPMorganChase has deployed more than $560 million in Atlanta since 2021, helping to create and preserve nearly 5,000 homes in the Atlanta metro area.¹ This financing, which includes lending and tax credit investments, represents how the firm is using market-driven solutions to create and preserve affordable housing.

About JPMorganChase

JPMorgan Chase & Co. (NYSE: JPM) is a leading financial services firm based in the United States of America (“U.S.”), with operations worldwide. JPMorgan Chase had $4.6 trillion in assets and $360 billion in stockholders’ equity as of September 30, 2025. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing and asset management. Under the J.P. Morgan and Chase brands, the Firm serves millions of customers in the U.S., and many of the world’s most prominent corporate, institutional and government clients globally. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.

About Historic District Development Corporation (HDDC)

HDDC is Atlanta’s oldest surviving community development corporation, dedicated to preserving and revitalizing historic neighborhoods through affordable housing development, economic empowerment, and community engagement.

Media contacts

Allison Reed
Allison.reed@jpmchase.com

Ani Rodriguez
ani.rodriguez@jpmchase.com

Cheneé Joseph
cjoseph@hddc.org