Fulton County Commissioner Bill Edwards thinks a new day is breaking for affordable housing in Fulton County.

Edwards is ecstatic about Tuesday's announcement by the Housing Authority of Fulton County that it will make $100 million in bond financing available for developers to build homes throughout Fulton County.

Hundreds of construction industry executives heard details of the Welcome Home Program, which will provide mixed-income single-family housing for everyone from working families to young professionals, and serve as a tool to revitalize neighborhoods.

The first of its kind by a housing authority in metro Atlanta, the program is the latest in the HAFC's ongoing effort to form public-private partnerships and expand housing opportunities in the county.

Developers can use the funds to build market-rate homes on targeted sites or to create subdivisions. The bonds will be made available through a new HAFC subsidiary, Legacy Community Partnership.

"Ownership changes a mindset. There's only a 1 percent foreclosure rate on homes in this country and nearly 68 percent of the people are owners," Edwards said.

The commissioner believes a lot of the bond money will go to redeveloping areas in South Fulton, which will provide more economic development in the area.

Edwards is pleased a variety of housing price levels will be built, since many retailers look for a wide income range before they commit to building.

"If you just have $200,000 houses, those people are far more likely to jump in their Jaguar and go somewhere else to buy things," he said.

Edwards is happy the Housing Authority is taking such an active role in the project and urged residents to change their minds about the organization.

"The Housing Authority has become a lot more innovative," he said.

While the bond money only provides for construction costs, Edwards said a number of lenders were at Tuesday's unveiling of the project and voiced their enthusiasm for it.

He plans to monitor the efforts of the program and keep residents up to date.

"I would rather have a person in their own house than renting," he said.