Amazon joining housing market in these WA cities. Plan is for 1,200 units near transit
Amazon announced today that it will be teaming up with Sound Transit to build 318 affordable homes near the public transportation network, investing $42.5 million into the Pacific Northwest portion of its national Housing Equity Fund, according to a press release.
Amazon’s Housing Equity Fund was first announced in 2021, with a mission to build and preserve 20,000 homes for those with moderate or low incomes. Amazon contracts loans, lines of credit, or grants for those needing housing, and partners with nonprofits and local governments to fund the projects.
In 2021, Amazon provided over 8,000 housing units through $1.2 billion of investments.
In 2022, the company plans to increase the number of housing projects in its home region in the Puget Sound, as well as Nashville and the greater Arlington, Virginia area.
According to the press release, in 2021 Amazon committed $100 million to create 1,200 new affordable housing units on Sound Transit’s property. Since the beginning of the program, Amazon has also committed more than $344.3 million in loans and grants for another 2,870 homes in the Puget Sound area.
Amazon’s new housing developments in Washington will be located in Bellevue and SeaTac.
The Bellevue Amazon housing project will build 233 apartments near the Spring District/120th Street station, and partner with BRIDGE Housing, a nonprofit developer who has joined with YMCA of Greater Seattle to provide youth and family services at the property.
The SeaTac Amazon housing project will include a minimum of 85 new apartments near the Angle Lake Station of SeaTac’s light rail system, in partnership with Mercy Housing Northwest, an organization that helps provide affordable housing for individuals and families in Washington and Idaho.
Bellevue Mayor Lynne Robinson commented on the impact of Amazon in the city in an Amazon press release announcing the new housing projects across the country:
“The scale that Amazon has gone to in order to create and preserve affordable housing in our region makes a real difference. Their commitment is bringing much needed affordability and accessibility to Bellevue residents,” the press release quoted Robinson.
The press release also announced that Amazon will be investing $124.4 million into building 1,060 homes near four public transportation sites, the two Washington locations alongside two locations in Arlington, Virginia.
According to the press release, the Amazon homes will keep a low rent for low and moderate income families, and rent prices will rise only with wage growth defined by the U.S. Department of Housing and Urban Development.
This story was originally published March 15, 2022 at 12:58 PM.
