United Bank and Federal Home Loan Bank of Atlanta Award $4.7 Million to Support Affordable Housing in Washington, D.C. and Virginia

Core Points - United Bank and FHLBank Atlanta announced a $4.7 million investment for affordable housing projects in Washington, D.C. and Virginia, creating 363 new units [1][3] - The funding is part of FHLBank Atlanta's Affordable Housing Program and aims to address the growing need for affordable housing [3][4] Project Summaries - Bluestone Town Center Residences in Harrisonburg, VA received $1 million for 62 affordable housing units for seniors with incomes between 30% and 60% of AMI, expected completion by early 2026 [2] - Hope View Apartments received $1 million for 42 housing units for seniors with incomes at or below 80% of AMI, including 16 units for homeless households, expected completion in early 2026 [4] - 2229 M Street NE Apartments received $1 million for 92 rental units for families, with 89% for households at or below 50% of AMI, expected completion by the end of 2026 [4] - Wagner Senior Residences received $742,805 for 67 affordable housing units, with 90% for seniors below 50% of AMI, expected completion by the end of 2026 [4] - 2911 Rhode Island Avenue NE Apartments received $1 million for 100 units for households between 30% and 80% of AMI, expected completion in spring 2028 [4] Organizational Background - United Bank is a community bank with over $32 billion in consolidated assets and more than 240 offices across several states, committed to community development and affordable housing initiatives [5] - FHLBank Atlanta provides financing and grants to support affordable housing and economic development, having awarded approximately $9.1 billion since 1990 to assist over 1.2 million households [6]