Amazon and Sound Transit announced on Tuesday, Mar. 15, 2022 that they will spend $42.5 million to build 318 affordable-housing units near light-rail stations in SeaTac and Bellevue.
In partnership with Sound Transit and Mercy Housing Northwest, Amazon is helping to create a minimum of 85 new construction affordable apartments located next to the Angle Lake Station in SeaTac, which is near high-quality transit, jobs, parks, and schools.
The property will be constructed with high-quality sustainable construction materials and methods to ensure sustainability and energy efficiency—thus providing savings to residents while minimizing environmental impact.
Amazon is funding a $16.7 million low-rate loan commitment and predevelopment grant to Mercy Housing Northwest. Mercy Housing Northwest will in turn partner with The Arc of King County, a nonprofit which supports people with intellectual and developmental disabilities, to provide onsite resident services.
Since January 2021, the Amazon Housing Equity Fund has committed more than $344.3 million in loans and grants for the Puget Sound region to create and preserve 2,870 affordable homes. Based on data provided by the City of Bellevue, through its efforts in the past year, the Amazon Housing Equity Fund has increased the long-term multifamily affordable housing stock in Bellevue by 20%.
“The scale that Amazon has gone to in order to create and preserve affordable housing in our region makes a real difference,” said Bellevue Mayor Lynne Robinson. “Their commitment is bringing much needed affordability and accessibility to Bellevue residents.”
“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.”