Amazon Commits $20M+ to Promote RE Developers of Color

Not only are real estate developers of color underrepresented in the industry, but they also lack access to the capital and resources necessary to advance much-needed affordable housing projects to benefit local communities. To that end, Amazon is committing more than $21 million to pilot a professional training, mentorship and capital funding program to help promote real estate developers of color.

This two-year part-time professional development program (free for participants) provides career advancement insights to real estate developers of color. It also aims to lower the barriers these developers face when bidding for affordable housing developments.

The goal of the program is to increase the number of professional real estate developers of color who are focused on affordable housing and inclusive community building. This initiative is part of the $2 billion Amazon Housing Equity Fund, a commitment to create and preserve 20,000 affordable homes for individuals and families earning moderate to low incomes in the Puget Sound region, the Arlington, VA region and Nashville.

“With this accelerator program, we are laser-focused on lifting up emerging real estate developers of color. We want to foster their professional growth through education and training as well as improve their access to capital, which can be elusive to developers of color,” said Catherine Buell, director of the Amazon Housing Equity Fund. “If we are going to bring about lasting, holistic and meaningful change to how affordable housing is developed, developers of color need to be a part of the solution.”