Affordable Housing Project in Seattle’s Northgate Receives $10M Loan from Amazon

Amazon.com Inc. has loaned nearly $10 million to WF Northaven LLC, an entity related to Seattle-based social benefit corporation Gaard Development, for the creation of a seven-story affordable housing project in the Northgate neighborhood of Seattle. Construction is currently underway on the 89-unit affordable housing project at 11057 Eighth Avenue NE and Amazon’s contribution comes from its Housing Equity Fund – a $2 billion fund devoted to providing low rate loans and grants throughout Puget Sound region for developers and housing authorities with hopes of supporting 18,000 people thus far. The City of Seattle also contributed with a $4 million loan while BECU lent another $17 million according to city records.