Amazon pledges $40 million for affordable housing

by Emily Marek

Tech and e-commerce giant Amazon is pledging $40 million in grants and loans for affordable housing projects across the country, with several located in the Seattle area. The funds come from Amazon’s Housing Equity Fund and will be allocated via the National Housing Trust.

Three nonprofit organizations in the Seattle area will receive financial assistance through Amazon’s grants, including Habitat for Humanity in Seattle-King and Kittitas counties, which will receive low-interest loans to help cover the cost of four affordable housing projects in South Park, Capitol Hill, Columbia City and Burien. These homes will be reserved for households making 80% or less of the county median income — just under $91,000 in King County.

Further funds will go to African Community Housing & Development, a Seattle/Tacoma nonprofit developing housing properties along Sound Transit in Rainier Valley, and Homestead Land Trust, a nonprofit working to secure land for affordable homes in King County. The Land Trust also recently received a $10 million unrestricted grant from philanthropist MacKenzie Scott, ex-wife of Amazon founder Jeff Bezos.

Since its founding in 2021, Amazon’s Housing Equity Fund has pledged over $524 million to build or preserve affordable housing projects in the Puget Sound region.

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