Amazon is adding $1.4 billion to a fund it established three years ago for preserving or building more affordable housing in regions where the company has major corporate offices, CEO Andy Jassy announced Tuesday.The Seattle-based company said the new sum would go on top of the $2.2 billion it had already invested to help create or preserve 21,000 affordable housing units in three areas: the Puget Sound in Washington state; Arlington, Virginia; and Nashville, Tennessee.
" The company has said it wants to focus on what it calls the "missing middle," a demographic that includes professionals like nursing assistants and teachers who don't qualify for government subsidies but still struggle to pay rent.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.