Atlanta Neighborhood Development Partnership (ANDP) today announced the successful completion of its Closing the Gap (CTG) initiative, scaling its development and lending response to metro Atlanta’s housing affordability crisis over a five-and-a-half-year period ending December 31, 2025. During the initiative, ANDP and its partners developed 2,013 affordable homes and apartments and financed an additional 2,708 affordable units through its expanded Loan Fund—impacting a total of 4,721 homes and apartments across the region.

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Through philanthropic support, mission-aligned private capital, and nationally competitive federal programs, including the U.S. Treasury’s New Markets Tax Credits and the Capital Magnet Fund programs, ANDP invested $222.7 million, supporting more than $1.1 billion in total development activity across metro Atlanta.

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“These results reflect both the urgency of the moment and the strength of long-term partnerships,” said John O’Callaghan, ANDP’s Chief Executive Officer. “Closing the Gap didn’t emerge overnight—it represents more than a decade of intentional work to build a capital model capable of meeting the scale of metro Atlanta’s affordability challenge.”

A Campaign Launched in Crisis - When ANDP launched Closing the Gap in July 2020, metro Atlanta’s housing market was already under significant strain. Homeownership rates were declining, housing supply had fallen to historic lows, and rental costs had increased nearly 50 percent since 2010—far outpacing wage growth. The COVID-19 pandemic further intensified these pressures, driving construction costs higher, disrupting supply chains, increasing interest rates, and accelerating competition for land and capital. Against this backdrop, ANDP’s ability to meet its campaign goals required flexibility, discipline, and an intentional approach to risk-sharing partnerships with smaller and emerging developers to accelerate production.

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Delivering Results Across Housing Types - By the end of the CTG campaign, ANDP had delivered:

4,721 homes and apartments, including:
 

• 1,272 affordable apartments through ANDP affordability land leases, equity investments, and development partnerships – completed and under development.
   

• 741 single-family homes (543 homeownership; 198 rental) completed or initiated, serving families earning below 30% and up to 120% of the area median income.
   

• 2,708 additional units financed through the ANDP Loan Fund
   

These investments supported a broad range of households, from first-time homebuyers to families and seniors seeking stable, long-term, affordable housing in communities across Metro Atlanta. In the single-family homeownership portfolio alone, ANDP invested more than $140.8 million, supporting 543 homes, while also completing 198 single-family rental homes in neighborhoods facing accelerating market pressure.

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ANDP is particularly proud of its homeownership production. In its 2025 Homebuyer Wealth Study, ANDP finds that affordable homeownership enables significant wealth creation for low- and moderate-income families in metro Atlanta, with total wealth gains exceeding $140 million among buyers supported through ANDP programs. Long-term owners saw average equity gains of $191,000, and 77.5% still own their homes today, illustrating the stability and economic mobility that affordable homeownership delivers.

A central goal of Closing the Gap was to double ANDP’s Treasury-certified Community Development Financial Institution (CDFI) loan fund, which provides flexible capital to affordable housing developers across the region. The fund more than quadrupled—from $9 million to $38 million—supporting 50 project loans and enabling more than $640 million in development costs.

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Stewardship of Philanthropic Resources – ANDP exceeded its $18 million philanthropic capital campaign goal, raising more than $20 million. Proceeds from ANDP’s Capital campaign, coupled with $5 million in related charitable grant funds targeted towards our investment strategies with underfinanced developers, were leveraged 43 to 1, contributing to 4,721 homes and apartments and supporting $1.1 billion in total development costs.

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This multiplier effect was made possible by ANDP’s ability to access highly competitive federal programs—including New Markets Tax Credits and the Capital Magnet Fund—and to deploy capital through innovative tools such as risk-based partnerships with smaller builders and growth of its internal single-family rotating fund, reducing the need for traditional acquisition and construction financing.

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“Closing the Gap demonstrated that scale is possible,” said Richard Slaton, ANDP Board Chair. “By refining our capital model and partnering with nonprofit and undercapitalized private developers, ANDP more than tripled its combined development and lending activity compared to the previous five-year period. That growth reflects not just increased capital, but a replicable model for expanding affordable housing production across the region.”

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About Atlanta Neighborhood Development Partnership (ANDP)  - A chartered member of NeighborWorks, Atlanta Neighborhood Development Partnership is a nonprofit organization that develops, finances and advocates for affordable housing at a scale that promotes racial equity and healthy communities where families thrive.

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