Amazon Commits $1.4 Billion to Build 14K Affordable Homes, Total Pledge Reaches $3.6 Billion

Jun 12, 2024, 10:15 AM

Amazon has committed an additional $1.4 billion to its Housing Equity Fund, aiming to create 14,000 affordable housing units in Seattle, Nashville, and Washington, DC metro areas. This new investment brings Amazon's total pledge to $3.6 billion. The fund, established three years ago, focuses on preserving or building affordable housing in regions where Amazon has major corporate offices. CEO Andy Jassy announced the initiative, highlighting the challenge of rising rents outpacing salaries for essential workers like teachers, nurses, and first responders.