Construction vehicles are parked outside of the Station U & O building on Tuesday, June 11, 2024, in Washington. The apartment building was built using investments from Amazon’s Housing Equity Fund. The company said Tuesday its adding $1.4 billion to the fund in order to help preserve or construct more affordable housing units in three regions. A car passes by the Atworth at College Park building in College Park, Md., Tuesday, June 11, 2024.
“We’ve made a big difference in both the amount and quality of affordable housing in these three communities,” she said. In September, Amazon made a $40 million investment to drive home ownership in the three regions. But the rest of the money so far has gone toward apartment buildings. Shobe said Amazon has worked to maintain a “mixed portfolio” without losing its focus on the missing middle. Currently, the company says most of the units it has supported serve households earning less than 60% of the area median income, which goes up to $82,200 for a family of four in Washington state’s King County, where Seattle is located.
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