Amazon-Supported Initiatives Near $800M Mark with New Arlington Developments
The Amazon Housing Equity Fund has made two new transit-oriented housing commitments in Arlington, VA. The new projects bring the fund’s commitments in the area to more than $795 million in loans and grants to create and preserve more than 4,400 affordable homes.
- The Margaux at the New Carrollton Metro Station: In partnership with Metro and developer Urban Atlantic, Amazon is creating 291 new construction apartments, with guaranteed affordability for 98 years. Amazon is funding $25.4 million in low-rate loans to Urban Atlantic to begin construction.
- Atworth at the College Park Metro Station: In partnership with Metro and developer Gilbane Development Company, Amazon is creating 451 new construction apartments, with guaranteed affordability for 98 years. Amazon is funding a $56.3-million low-rate loan to the Gilbane Development Company to begin construction.
According to Arlington County, the Amazon Housing Equity Fund has increased the long-term committed multifamily affordable housing stock in Arlington by 22%.
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