Amazon has committed $1.4 billion to its Housing Equity Fund, with the goal of building 14,000 affordable homes in the Seattle, Nashville and Washington metro areas. The new commitment brings Amazon's total housing pledge to $3.6 billion.
"We hope that our additional commitment—coupled with other public and private resources—will help make a meaningful difference for thousands more people and enable these regions to thrive," said Amazon CEO Andy Jassy.
In 2021 the company earmarked $2 billion for low-interest loans and grants to bolster housing in the high-cost West Coast cities and Amazon says it has exceeded its original goal two years early by providing $2.2 billion to create and preserve more than 21,000 affordable homes.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
