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January 7, 2021 Comments Off on Amazon Launches $2B Housing Equity Fund Views: 881 Seattle & Pacific Northwest News, Seattle News, Top Seattle

Amazon Launches $2B Housing Equity Fund

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Amazon launched the Housing Equity Fund, a more than $2 billion commitment to preserve and create in excess of 20,000 affordable housing units in the Puget Sound region; Arlington, VA; and Nashville, TN. Those three communities are where the company has or expects to have at least 5,000 employees each in the coming years.

Amazon’s Jeff Bezos says, “Amazon has a long-standing commitment to helping people in need, including the Mary’s Place family shelter we built inside our Puget Sound headquarters. The shelter now supports over 200 women and children experiencing homelessness every night.”

Amazon’s Housing Equity Fund will help preserve existing housing and help create inclusive housing developments through below-market loans and grants to housing partners, traditional and non-traditional public agencies, and minority-led organizations.

The first investments include $381.9 million in below-market loans and grants to the Washington Housing Conservancy for the Crystal House property in Arlington and $185.5 million in below-market loans and grants to King County Housing Authority for affordable homes in the state of Washington, with additional investments to come in all three regions.

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