The company said Wednesday that Amazon will invest $ 2 billion in affordable housing in select cities where it has properties.
The Housing Equity Fund is committed to “creating or maintaining 20,000 affordable homes in all three regions of our headquarters – Arlington, Puget Sound and Nashville. It will also help local families achieve long-term stability while building strong and inclusive communities, ”Amazon founder and CEO Jeff Bezos said in a statement.
The money will be in the form of submarket loans and grants for housing partners, as well as traditional and non-traditional housing and minority-led agencies.
Amazon will start its investment with $ 381.9 million in housing in Arlington, Virginia, and $ 185.5 million in Washington state.