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Amazon Housing Equity Fund Commits $31M for Affordable Housing
The Amazon Housing Equity Fund has announced groundbreaking on two new affordable apartment communities in the greater Seattle metropolitan area which the fund has committed $31.3 million to support.
The fund committed to a $11.2 million below-market-rate loan for the MLK Mixed-Use and Early Learning Center, in development with the Low Income Housing Institute (LIHI), a multifamily project that will create 148 new affordable homes and an early learning center operated by Refugee Women’s Alliance (ReWA).
A $20.15 million below-market-rate loan will help create the Terrapin Apartments, in development by Johnson & Carr, a transit-oriented development that includes 172 workforce housing apartments in Downtown Bellevue within a half-mile of the new Bellevue Downtown Link Light Rail Station.
