Amazon has announced a five-year $2billion investment plan for three of its main employment regions for the purpose of creating and preserving affordable housing.
The three regions are in Seattle, Washington; Arlington, Virginia.; and Nashville, Tennessee.
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Amazon’s founder and CEO Jeff Bezos in his recent statement announced that the 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.
Bezos also stated that the investment will also will also help local families achieve long-term stability while building strong, inclusive communities.”
According to the statement, the new Housing Equity Fund will sponsor moderate- to low-income housing around Seattle, Nashville and Arlington, Virginia, where Amazon ultimately expects to have at least 5,000 employees each. The fund will also give grants to government partners, like transit agencies and school districts, to help working families in those fields.
The Housing Equity Fund, in addition to its $2 billion investment, also includes a $125 million in grants to minority-led organizations and public agencies, aimed at improving the shortage of affordable housing which mostly affects people of color; adding that the money will also help local families achieve long-term stability.
