Amazon has announced a pledge of $2B toward the creation and preservation of affordable housing in its home city of Seattle, the location of its second headquarters in Arlington, Virginia, and the home of itsNational Operations Center of Excellence” in Nashville, Tennessee, the Wall Street Journal reports
Amazon will distribute the largest portion of those funds via low-cost loans to owners and developers of affordable housing, with some money also being disbursed in the form of grants to public housing agencies and minority-led community organizations, the WSJ reports.
With Amazon being one of the most sought-after office employers, they have taken aim at helping employers and visitors live in costly cities where their headquarters and significant offices are. Quasi-governmental partnerships like these help boost local economies and positively impact the surrounding area. Many of our target cities are within proximity to Amazon distribution centers or offices, creating incentive and motive to invest in these markets to gain from the upside.