Federal Home Loan Bank of Atlanta, Atlantic Union Bank and Jubilee Housing Celebrate Groundbreaking of Affordable Housing Community in Washington D.C.

ATLANTA, May 07, 2026 (GLOBE NEWSWIRE) -- Federal Home Loan Bank of Atlanta (FHLBank Atlanta), Atlantic Union Bank, and Jubilee Housing are pleased to celebrate the groundbreaking for six affordable multifamily rental developments in Washington, D.C.

Four of the developments received a total of $3.3 million in grants from FHLBank Atlanta’s General Fund to put toward the rehabilitation of 81 affordable rental units:

• $925,300 grant for 23 rental units at The Sorrento on 2233 18^th St NW
• $700,000 grant for 17 rental units at The Marietta on 2418 17th St NW
• $1,200,000 grant for 29 rental units at The Mozart on 1630 Fuller St NW
• $500,000 grant for 12 rental units at The Fuller on 1650 Fuller St NW 

Jubilee Housing sponsored the application for the FHLBank Atlanta grant last year, and funds are being administered by Atlantic Union Bank, a member of FHLBank Atlanta.

“Each year, our member financial institutions partner with developers and community organizations to leverage our grant funding and expand the supply of affordable housing,” said FHLBank Atlanta CEO Reggie O’Shields. “We congratulate Jubilee Housing on this groundbreaking and applaud their commitment to creating a community where people have the opportunity to thrive.”

“We are grateful for our partnership with FHLBank Atlanta and Atlantic Union Bank, and for our shared commitment to developing and preserving deeply affordable housing here in the District,” said Jim Knight, President and CEO of Jubilee Housing. “Support like this makes it possible to deliver not only deeply affordable housing, but also the wraparound services that are so crucial to our residents.”

“Atlantic Union Bank is proud to partner with FHLBank Atlanta and Jubilee Housing to help bring these important developments to life,” said René Shepperson, Commercial Real Estate Banker at Atlantic Union Bank. “Access to safe, affordable housing is foundational to strong communities, and these projects reflect the power of collaboration in preserving quality homes for District residents. We’re honored to help administer this funding and support Jubilee’s continued commitment to putting people first.”

Last year, FHLBank Atlanta provided more than $128 million in grants through its members to advance homeownership, expand affordable housing supply, and help families preserve home equity to build generational wealth. In 2026, FHLBank Atlanta is allocating $120 million through its housing programs, bringing its three-year total to more than $300 million for affordable housing and community development.

About Atlantic Union Bankshares
Headquartered in Richmond, Virginia, Atlantic Union Bankshares Corporation (NYSE: AUB) is the holding company for Atlantic Union Bank. Atlantic Union Bank has branches and ATMs located in Virginia, Maryland and North Carolina and Washington D.C. Certain non-bank financial services affiliates of Atlantic Union Bank include: Atlantic Union Equipment Finance, Inc., which provides equipment financing; Atlantic Union Financial Consultants, LLC, which provides brokerage services; and Union Insurance Group, LLC, which offers various lines of insurance products.

About Jubilee Housing
Jubilee Housing builds strong, compassionate communities where everyone has the chance to thrive. Through what we call Justice Housing®, we create deeply affordable homes paired with on-site and nearby support services, in neighborhoods with access to good schools, transit, groceries, and jobs. Together, we’re building more than just housing, we’re creating pathways to opportunity. Learn more at jubileehousing.org. 

About Federal Home Loan Bank of Atlanta
FHLBank Atlanta offers competitively-priced financing, community development grants, and other banking services to help member financial institutions make affordable home mortgages and provide economic development credit to neighborhoods and communities. The Bank’s members are commercial banks, credit unions, savings institutions, community development financial institutions, and insurance companies located in Alabama, Florida, Georgia, Maryland, North Carolina, South Carolina, Virginia, and the District of Columbia. FHLBank Atlanta is one of 11 district Banks in the Federal Home Loan Bank System. For more information, visit our website at www.fhlbatl.com.

Media Contact:
Sheryl Touchton
stouchton@fhlbatl.com

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