Grand Avenue Commons, a undertaking in Seattle supported by the Amazon Housing Fairness Fund
Amazon stated Thursday that it is giving minority-led organizations $23 million to construct and protect greater than 568 inexpensive properties in Seattle, a step to ease the native housing disaster.
Amazon Housing Fairness Fund, which emphasizes aiding households that earn 30% to 80% of an space’s median earnings, will assist the funding. Launched in 2021, the fund has offered $1.2 billion for over 8,000 inexpensive properties throughout the Puget Sound area in Washington state, the Arlington, Virginia area and Nashville, Tennessee.
Amazon is working with three housing companions — the Mount Baker Housing Authority (MBHA), El Centro de la Raza, and Gardner International — and focuses on neighborhoods with massive populations of individuals of coloration.
“We’re dedicated to serving to handle the housing disaster within the Puget Sound area, which is disproportionately affecting communities of coloration,” stated Catherine Buell, director of the Amazon Housing Fairness Fund. “In supporting these initiatives, we’re specializing in fairness by not solely growing entry to inexpensive housing but additionally being intentional about whom we choose as growth companions.”
The Puget Sound area in Washington State hosts workplaces for tech companies like Microsoft, Google and Amazon. Microsoft, headquartered in Redmond, Washington, has additionally offered housing funds within the space.
Seattleites have blamed Amazon for growing the price of residence possession. The housing value in Bellevue has soared, even surpassing Manhattan, after Amazon expanded its towers into the Seattle suburb, in line with knowledge from Redfin cited by Bloomberg.
“When our metropolis’s companies and personal companions step up, like Amazon is doing by way of this vital funding, we will speed up progress addressing troublesome challenges like housing affordability,” Seattle Mayor Bruce Harrell stated in a information launch asserting the funding.