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Amazon will direct $2 billion in loans and grants to secure affordable housing near three American cities where the company employs thousands of workers, the tech giant announced Wednesday.
In a first step in the Puget Sound region, Amazon is promising $185.5 million, mostly in loans, to the King County Housing Authority to help buy affordable apartments in the region and keep the rents low. The Housing Authority will use an initial portion of that money to help fund its recent purchase of three Bellevue apartment buildings.
Amazon is using its fortunes for good on January 7, 2021, 14:54 8 comments
In brief: Amazon is a company with a hand in just about every industry, but it s seeking to add another to its portfolio now: real estate. Courtesy of the retail giant s new Housing Equity Fund, Amazon will build $2 billion worth of inclusive housing developments that will be both affordable and convenient (with closer proximity to local services) for residents.
Amazon says the money, and the housing it will help fund will benefit moderate-to-low-income families and individuals in three key locations: Washington s Puget Sound region, as well as Arlington, Virginia, and Nashville, Tennessee.
Amazon commits $2 billion toward affordable housing
The company says it will create 20,000 affordable housing units in Washington State s Puget Sound region; Arlington, Virginia, and Nashville, Tennessee. Author: TEGNA Updated: 10:59 AM EST January 6, 2021
WASHINGTON
Editor s note: The video above was first published in October 2019.
Amazon says it is committing $2 billion to help fund affordable housing units in Washington, Virginia and Tennessee.
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, according to a press release.
The company says it will create 20,000 affordable housing units in Washington State s Puget Sound region; Arlington, Virginia, and Nashville, Tennessee, communities with more than 5,000 Amazon employees expected in the coming years.
Amazon Launches $2 Bln Housing Equity Fund For Affordable Housing Units
SEATTLE (dpa-AFX) - Amazon (AMZN) announced Wednesday the launch of the Housing Equity Fund, a more than $2 billion commitment to preserve and create over 20,000 affordable housing units for moderate- to low-income families in all three of its headquarters regions in Puget Sound, Arlington and Nashville.
These are the three communities where the company has or expects to have at least 5,000 employees each in the coming years.
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.
Amazon pledges US$2b for affordable homes near US cities businesstimes.com.sg - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businesstimes.com.sg Daily Mail and Mail on Sunday newspapers.