Amazon has announced a new initiative to support affordable homeownership in various regions of the United States, including the Puget Sound area. The company will be providing $40 million in grants and loans through its Housing Equity Fund, which was founded in 2019 and has already committed over $1.7 billion towards creating or preserving affordable homes for renters.
The pilot program, launched in partnership with the National Housing Trust, aims to assist individuals and families from underserved communities in Washington State’s Puget Sound region as well as Arlington, Virginia and Nashville, Tennessee. According to Senthil Sankaran, Managing Principal of Amazon’s Housing Equity Fund: “This new initiative will allow us to explore ways to help more moderate-income residents achieve their dreams of homeownership while also building wealth for future generations.”
Through this expansion of their existing fund, Amazon hopes to make a positive impact on housing affordability across its hometown communities.
