Amazon’s Housing Equity Fund
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In January 2021, Amazon launched the $2 billion Housing Equity Fund with the goal of creating and preserving 20,000 affordable homes across three of its hometown communities—Washington State's Puget Sound region; the Arlington, Virginia/National Capital region; and Nashville, Tennessee—within five years. The Fund is designed to help moderate- to low-income residents access quality affordable housing.
The fund committed an additional $1.4 billion in funding to create and preserve 14,000 homes, brining the total to more than $3.6 billion in below-market loans and grants to preserve and create more than 35,000 affordable homes for individuals and families earning moderate to low incomes in the Puget Sound, National Capital, and Nashville regions.
Sources
- https://www.aboutamazon.com/impact/community/housing-equity
- https://assets.aboutamazon.com/e9/0a/165c4abc4fc0aad0f6b40588b9a7/amazonhousingequityfund-2024impactreport.pdf
- https://www.aboutamazon.com/news/community/amazon-housing-equity-fund-1-4-billion-investment
Last updated: Nov. 8, 2024
Program details
City: Nashville, Seattle, Washington D.C.
Program geography: Varies
Entities involved: City Government, For-Profit Entity, Local Housing Authority, Non-Profit Organization, State Housing Finance Agency (HFA)
Market Category: High Cost Market Resources
Tool Category: Support for-profit Owners - Buy Rehab and Operate Existing Buildings, Tools for Mission Driven Owners
Tool Description: Subordinate Financing
Year started: 2021
Target tenants: Between 30% and 80% AMI
Affordability restrictions: Dependent of Funds. 95% of developments the Fund supports will be kept affordable for 99 years.
Funding sources: Social Impact Equity