Amazon Pledges $23 Million To Affordable Housing In Seattle As Part Of Its Housing Equity Fund
Amazon introduced on Thursday that it will spend $23 million to build inexpensive housing in Seattle as component of its Housing Equity Fund.
The move will come as the tech market has been accused of building the affordable housing crisis even worse as tech salaries in the location have caused housing price ranges to raise considerably. The cash will go to minority-led companies in the region to create or preserve more than 500 new models.
“When our city’s companies and non-public companions phase up, like Amazon is undertaking via this sizeable investment decision, we can speed up development addressing tricky troubles like housing affordability,” Seattle Mayor Bruce Harrell mentioned in a news launch asserting the expense.
Amazon pledged $124 million to guidance very affordable housing near Seattle and Washington D.C. in March. Amazon commited to its Housing Equity Fund in January 2021 and plans to shell out $2 billion all collectively.
The fund has so far invested more than $1.2 billion where the firm has places of work in Washington point out Arlington, Virginia and Nashville, Tennessee.
“The Amazon Housing Fairness Fund is tackling the cost-effective housing disaster on multiple fronts and as a result of ground breaking options, these as teaming up with community transit authorities, which provides individuals closer to a lot more options, solutions, and a superior top quality of lifetime,” Catherine Buell, director of the Amazon Housing Fairness Fund, said in a assertion in March.
Amazon extra in the statement that it believes that its expense in these areas will assistance deliver financial chances to people in require.
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