SEATTLE (AP) – Amazon says it’s providing $23 million to help minority-led organizations build or preserve more than 500 new affordable housing units in Seattle.
It’s the latest spending by a tech company to ease a severe housing crunch the industry has helped create.
The commitment announced Thursday comes from Amazon’s Housing Equity Fund, a $2 billion initiative launched in January 2021.
The fund has so far invested more than $1.2 billion to create or preserve over 8,000 affordable homes across three regions where the company has offices: the Puget Sound in Washington state; Arlington, Virginia; and Nashville, Tennessee.
The new investments are the fund’s first in Seattle proper.