Amazon Pledges $40M to Support Affordable Homeownership

Amazon is pledging $40 million in grants and loans for affordable homeownership projects in several regions of the country, including the Puget Sound area. The tech and e-commerce company has launched a new pilot initiative in partnership with the National Housing Trust to help individuals and families from underserved communities in Washington State’s Puget Sound, the Arlington, Virginia region, and Nashville, Tennessee, become homeowners.

“This new initiative will allow us to explore ways to help more moderate-income residents realize their dreams of homeownership and, in turn, help build wealth that can pass on to the next generation,” said Senthil Sankaran, Managing Principal of the Amazon Housing Equity Fund.

The pilot marks an expansion of the tech and e-commerce company’s Housing Equity Fund. Founded in 201, the Amazon Housing Equity Fund has committed more than $1.7 billion to create or preserve more than 14,000 affordable homes for renters across the company’s hometown communities.