Amazon has long been known for offering inexpensive prices on everyday needs, and for its streaming services. Now Amazon has announced plans to spend $1.4 billion to create and preserve an additional 14,000 affordable homes.
The project launched in 2021 with $2 billion through the Housing Equity Fund with the goal at the time of 20,000 affordable homes. Now Amazon is expanding its investment into affordable homes.
“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,” said Amazon CEO Andy Jassy. “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.”
The project will bring homes to teachers, first responders, health care workers, and others who do not typically qualify for homes in the high-cost areas around Amazon’s main offices.
This investment will be focused on Washington State’s Puget Sound region; the Arlington, Virginia/National Capital region; and Nashville, Tennessee. Amazon hopes it will be done within five years.
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