Amazon has announced plans to provide more than $124.4 million to build 1,060 affordable homes near four public transit sites while working in partnership with the Washington Metropolitan Area Transit Authority (WMATA) and Sound Transit, the transit system serving the Central Puget Sound region of Washington state, to complete the developments. This is part of Amazon’s $300 million transit commitment from 2021 to create 3,000 new affordable homes in collaboration with the transit agencies in each region.
“The Amazon Housing Equity Fund is tackling the affordable housing crisis on multiple fronts and through innovative solutions, such as teaming up with public transit authorities, which brings people closer to more opportunities, services, and a better quality of life,” said Catherine Buell, director of the Amazon Housing Equity Fund, a more than $2 billion commitment to create and preserve 20,000 affordable homes for individuals and families earning moderate to low incomes in Washington state’s Puget Sound region; the Arlington, Virginia region; and Nashville, Tennessee. “We know that our investment in these areas brings many economic opportunities for residents in the region, but we also acknowledge that this growth needs to benefit everyone in the community. The progress we have made in our first year is promising, but we have more to do.”
Scheduled for completion in late 2023, The Margaux is the first new-construction community supported by the Amazon Housing Equity Fund. The Margaux is part of a 2.3 million square foot, mixed-use transportation hub that is already well underway, and includes office space, retail, additional housing, and WMATA offices.
“We are excited that The Margaux, with Amazon’s support, will become a model that can be replicated by others. We’re proud to join once again with our long-term partners at WMATA, EagleBank, and Prince George’s County to bring new housing that is affordable to our community’s frontline workers,” said Vicki Davis, Managing Partner of Urban Atlantic.