Amazon has long been known for its low prices on daily items, as well as its streaming services. Amazon has now announced intentions to invest $1.4 billion to build and preserve an additional 14,000 affordable homes.
The project began in 2021 with a $2 billion investment from the Housing Equity Fund, with the intention of building 20,000 affordable dwellings. Amazon is also expanding its involvement in affordable housing.
“We created the Amazon Housing Equity Fund to preserve and create homes that will remain affordable for the next century, ensuring families can stay in their communities for generations to come,” Andy Jassy, CEO of Amazon, said. “We hope that our additional commitment—coupled with other public and private resources—will help make a meaningful difference for thousands more people and enable these regions to thrive.”
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The initiative will provide homes for teachers, first responders, health care workers, and others who do not generally qualify for housing in the high-cost areas surrounding Amazon’s major operations.
This investment will concentrate on Washington State’s Puget Sound region, Arlington, Virginia/National Capital region, and Nashville, Tennessee. Amazon aims to complete it within five years.
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