Amazon said on Wednesday that it has launched the Housing Equity Fund, a more than $2 billion commitment to preserve and create over 20,000 affordable homes in Washington State’s Puget Sound region; Arlington, Virginia; and Nashville, Tennessee.
“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,” said Jeff Bezos, Amazon founder and CEO.
“This new $2 billion Housing Equity Fund will create or preserve 20,000 affordable homes in all three of our headquarters regions—Arlington, Puget Sound, and Nashville. It will also help local families achieve long-term stability while building strong, inclusive communities,” Bezos added.
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”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,” said the company in a statement.
Amazon’s first investments include $381.9 million in below-market loans and grants to the Washington Housing Conservancy to preserve and create up to 1,300 affordable homes on the Crystal House property in Arlington and $185.5 million in below-market loans and grants to King County Housing Authority to preserve up to 1,000 affordable homes in the state of Washington, with additional investments to come in all three regions.
Please visit amazon.com/housingequity to read more about Amazon’s Housing Equity Fund.