Amazon’s Housing Equity Fund is providing more than $2 billion in below-market loans and grants to preserve and create more than 20,000 affordable homes for individuals and families earning moderate to low incomes in our hometown communities. The Housing Equity Fund is in addition to $100 million in cash and in-kind donations to our nonprofit partner, Mary’s Place, to build the largest family shelter in Washington state inside an Amazon office building at our Puget Sound headquarters.
Amazon’s Commitment to Housing Equity
Amazon’s Housing Equity Fund is a more than $2 billion commitment to preserve and create more than 20,000 affordable homes in three communities where we have a high concentration of employees: Washington State’s Puget Sound region; the Arlington, Virginia region; and Nashville, Tennessee. It will help create inclusive housing developments and preserve existing housing through below-market loans and grants to non-traditional and traditional housing partners, public agencies, and minority-led organizations supporting communities of color.
All people should have access to housing they can afford. Low-income and minority families are disproportionately affected by an affordable housing shortage in the U.S. While only governments at the local, state and federal level have the capacity to implement more effective housing policies, we believe the private and public sectors can work together to address this challenge. We will use our position as a large employer to support innovative housing affordability initiatives. And, in locations where we have a sizeable presence, we will invest directly in efforts where we believe our financial support will make a difference.
Amazon has committed over $130 million to our nonprofit partners who are working to fight homelessness. Most notably, the company’s $100 million in-kind and cash donations have built the largest family shelter in Washington state for our nonprofit partner, Mary’s Place. Mary’s Place opened an eight-floor shelter with its own health clinic inside an Amazon office building within the company’s Puget Sound headquarters.
Amazon’s new housing pilot initiative will help up to 800 individuals and families from underserved communities purchase homes in D.C., TN, VA, and WA.