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Amazon to invest $25 million for affordable housing in Washington

by Emily Marek

Amazon has plans to invest $25 million in affordable housing across Washington, according to a report from Northwest Multiple Listing Service.

The funds come from the corporation’s Housing Equity Fund, which was established in 2021 to help create affordable housing near Amazon headquarters.

“The goal is to rapidly increase affordable housing near transit,” wrote Alice Shobe, global director of Amazon in the Community. “Transit-oriented development supports the community in many ways. It promotes racial and economic equity. It benefits low- to moderate-income families by accelerating the creation of affordable homes, and easy access to quality transit connects residents to jobs, education and opportunities across the region.”

The fate of this investment lies with Senate Bill 5466, which would allocate land for affordable housing in high-capacity transit areas across the state. Washington REALTORS® supports SB 5466, calling it a “high priority.”

“While only governments at the local, state and federal level have the capacity to implement more effective housing policies, we believe that the private and public sectors can work together to address this challenge,” Shobe continued. “SB 5466 is an innovative and equitable way to accelerate the construction of affordable housing.”

This $25 million pledge comes after Amazon’s 2021 investment of $100 million to create affordable housing in the Puget Sound region. Housing projects related to that investment are currently underway in Bothell, Federal Way, Kirkland and Tacoma.

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