Amazon Commits Millions in Funds to Affordable Housing
Amazon has announced the intention to spend 42.5 million to build over 300 affordable housing units near light rail stations. Allocating these funds to affordable housing is part of Amazon’s Housing Equity Fund. The fund is a more than $2 billion commitment to create and preserve 20,000 affordable homes for individuals and families earning moderate to low incomes in communities they call home.
“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, the director of the Amazon Housing Equity Fund. “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.”
GrantWatch has similar grants of $10,000 available to U.S nonprofits in multiple states for community development, housing, and education programs.
Funds for Affordable Housing to Benefit Communities
In partnership with local transit authorities, Amazon has made commitments to ensure that there is affordable housing close to public transit. This will allow people to easily commute to work while living in affordable and safe housing.
Last year, Amazon committed more than $100 million to the creation of 1200 new properties on the Sound Transit property. Additionally, this funding will go toward connecting communities to employment opportunities, resources, and services that allow for that area to retain its culture and diversity. Investing back into communities is essential for ensuring that residents can benefit from Amazon’s presence there.
This investment comes amidst increasingly rising housing costs and fears of housing insecurity for so many people. The pandemic increased the rate of people struggling with housing security, and rising inflation seems to make things worse. The company is committing funds to create these units and will work with transit authorities to ensure their completion.
GrantWatch also has grants to help U.S. tenants cover rental and utility expenses during the Coronavirus (COVID-19) pandemic. Funding is for individuals and households that have experienced financial difficulties as a result of the health crisis.
Looking for similar grants? GrantWatch features an entire category for housing grants. This category includes funding for crucial research, the development of housing projects, and repairs.
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