AUDC Raises $7M Seed Round

The Atlanta Urban Development Corporation (AUDC) has secured $7,000,000 in investment capital to further its mission of expanding affordable housing options within the City of Atlanta. This significant financial injection will empower AUDC to accelerate its strategic initiatives aimed at addressing the city's housing needs. AUDC is a specialized non-profit entity formed through a collaboration between the City of Atlanta and the Atlanta Housing Authority. It plays a crucial role in supporting the Mayor's ambitious goal of building and preserving 20,000 units of affordable housing by 2030. The organization's core focus is on leading the redevelopment of public land into marketable, mixed-income housing, designed to be attractive and attainable for tenants across a broad range of income levels. The newly raised capital is critical for AUDC as it seeks to establish long-term affordability and control over housing projects. A key objective of the organization is to pioneer a new cross-subsidization model for public land, reducing reliance on traditional tax credits for development financing. This funding will enhance AUDC's capacity to partner with Atlanta’s public agencies and catalyze large-scale redevelopment projects throughout the city. With this investment, AUDC plans to utilize its unique toolkit of financing mechanisms to incentivize and accelerate the development of mixed-income communities that include affordable housing units. The organization actively collaborates with developers and stakeholders to create thriving mixed-income neighborhoods where residents can flourish. This funding round represents a pivotal step for AUDC, reinforcing its innovative approach to urban development. The capital will enable the corporation to significantly advance its efforts in creating sustainable and inclusive housing solutions, contributing to the city's growth and enhancing the quality of life for its residents in the coming years.