Amazon’s new $2B fund aims to boost affordable housing in Arlington, Nashville and Seattle areas
January 6, 2021 at 2:20 pm
The 326-unit Hampton Greens complex in Bellevue, Wash., is one of the properties that the new Amazon fund will help to preserve as affordable housing. (King County Housing Authority Photo)
Amazon is committing more than $2 billion to affordable housing initiatives in the regions of Seattle, Nashville, Tenn., and Arlington, Va., attempting to leverage its extraordinary financial assets to address disparities in three communities where its rapid growth risks deepening the economic divide.
The tech giant’s new Housing Equity Fund, announced Wednesday morning, will seek to preserve and create more than 20,000 affordable housing units across the three regions by making below-market loans and grants to public agencies, housing partners and minority-led organizations.