Seattle & Northwest CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Sub Markets

Property Sectors


Seattle & Northwest  + Seattle  + Apartments  | 

Amazon Lends $10M for Seattle Affordable Housing Project in Northgate Inc. has loaned nearly $10 million to WF Northaven LLC, an entity related to Seattle-based social benefit corporation Gaard Development, to create a seven-story affordable housing project in the Northgate neighborhood. Construction is currently underway on the 89-unit affordable housing project at 11057 Eighth Avenue NE.

Amazon is one of several lenders for the development, and agreement records also show a $4 million loan from the City of Seattle, Puget Sound Business Journal reported. Amazon confirmed its $9.8 million below-market loan came from its Housing Equity Fund, a $2 billion fund devoted to affordable housing developments in cities where the company is based. BECU is lending another $17 million, per city records.

To date, the Amazon Housing Equity Fund has helped provide affordable housing to support an estimated 18,000 people, including roughly $500 million in low-rate loans and grants throughout the Puget Sound region to developers and housing authorities.


Inside The Story

About Jasmine Kilman

Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories. With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.

New call-to-action
New call-to-action