A grand total of $2 billion USD has just been pledged by Amazon, with the goal of giving more affordable housing to lower-income families and individuals.
This action was taken in light of the steps taken by Facebook, Apple and Google who have all pledged a minimum of $1 billion USD towards creating more affordable housing to counteract rising housing prices caused by the presence of the headquarters of these tech giants. In a similar way, Amazon’s House Equity Fund will be directing its attention towards the 3 areas where their primary headquarters are located, those being Arlington, Virginia; Nashville, Tennessee and Seattle, Washington and will arrive as low-cost loans, lines of credit and grants for individuals and families earning between 30%-80% of the median income in those areas.
Jeff Bezos, CEO of Amazon had this to say about the project: “Amazon has a long-standing commitment to helping people in need, including the Mary’s Place family shelter we built inside our Puget Sound headquarters. The shelter now supports over 200 women and children experiencing homelessness every night,” he said. “This new $2 billion Housing Equity Fund will create or preserve 20,000 affordable homes in all three of our headquarters regions—Arlington, Puget Sound, and Nashville. It will also help local families achieve long-term stability while building strong, inclusive communities.”
For those seeking more information about Amazon’s initiative, you can find it on Amazon’s official blog.
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