In 2021, Amazon set course on an ambitious goal to create 10,000 affordable homes throughout the Puget Sound region. As of Friday, Sept. 12, Amazon announced it has reached its housing commitment vision.
More than 10,000 affordable homes across the Puget Sound region represent more than $900 million in housing investments, benefitting an estimated 22,000 residents, according to Amazon, by providing stable housing close to jobs, schools, and transit. The e-commerce giant began this venture after it launched the Housing Equity Fund in 2021.
“When I think about these affordable homes, I see families finding stability and new opportunities,” Alice Shobe, director of community impact at Amazon, said in a prepared statement. “I’m grateful to celebrate this milestone with our amazing housing partners, passionate community advocates, and the local officials who’ve championed these efforts. These are solutions that will make a difference for generations to come.”
The Housing Equity Fund is part of Amazon’s broader $3.6 billion commitment to support affordable housing in the Puget Sound area, Washington D.C., and Nashville.
Keeping these homes affordable for generations
Amazon stressed that a requirement within the overarching project was to keep the newly-created units affordable for 99 years.
“Amazon’s partnership has been transformative for affordable housing development in the Puget Sound region. Their approach combines critical financial resources with a genuine commitment to long-term community stability through 99-year affordability requirements,” Joe Thompson, president of Mercy Housing Northwest, stated. “At Connection Angle Lake, this partnership allowed us to create not just housing, but a community where residents can thrive near transit, jobs, and services.”
Amazon is currently accepting new applications for Puget Sound projects through Sept. 30.
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