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Amazon Adds $1.4B to Housing Equity Fund
Amazon announced that it is adding an additional $1.4 billion to its fully committed $2 billion Housing Equity Fund.
The e-commerce giant launched the Housing Equity Fund in 2021 with the goal of creating and preserving 20,000 affordable homes across three of its hometown communities within five years. The Fund is designed to help moderate- to low-income residents access quality affordable housing.
The Amazon initiative supports several Seattle area developments, including two new affordable apartment communities to which the Fund has committed $31.3 million. Earlier this year, JLL announced it had executed $139.64 million in financing from the Fund for the development and preservation of 11 affordable housing communities across the Puget Sound region.
The additional $1.4 billion in funding brings the total to more than $3.6 billion, which will fund more than 35,000 affordable homes across several regions, including Puget Sound.
