ALEXANDRIA, Va. (WDVM) — A new transit deal is part of Amazon’s billion-dollar housing equity fund. Metro and Amazon have partnered together to create 1,000 affordable housing units in the Metropolitan area.
Although it’s now empty space, it will soon be occupied by 1,000 affordable housing units targeting low and middle-class families so they can afford to live near and benefit from quality public transit.
A $125 million dollar commitment from Amazon made this happen. As transportation is a central quality of life for families, the goal is to grow ridership and expedite the development of affordable homes for low-income families, so they can afford to live in communities with easy access to employment, schools, healthcare, and education.
Catherine Buell, head of community development with Amazon, said, “We’re intentional about the equity component of the housing equity fund. That’s both in terms of the locations that were benefiting, also in terms of minority populations but also providing access to quality affordable housing in areas that historically have been exclusive, have not had an opportunity for affordability.”
Amazon’s partnership with Metro is part of its $300 million total transit commitment for equitable transit-oriented affordable housing development in communities it calls home. In January 2021, Amazon announced the Housing Equity Fund, a more than $2 billion commitment to preserve and create over 20,000 affordable housing units in Washington state’s Puget Sound region; Arlington, Virginia; and Nashville, Tennessee.
Paul Smedburg, Chair for the Metro Board of Directors said, “Living near transit should not be out of reach for low and middle-income families. So starting Wednesday developers with joint development agreements with metro can apply directly with amazon for this funding to increase affordable housing to metro stations.”
Construction is set to be complete by November of 2022 and they look to expand in Falls Church Va. Visit amazon.com/housingequity to read more about Amazon’s Housing Equity Fund or here to apply for funding.