Amazon to invest USD 2 bn in affordable housing
New Delhi: In a significant real estate play by any technology firm, Amazon has committed an investment of USD 2 billion over next 5 years for about 20,000 affordable houses. The houses will come up in three US cities where the company has major operations.
The company’s ‘Housing Equity Fund’ will make the investments in Nashville, Seattle and moderate- to low-income housing around the cities — Seattle; Nashville (Tennessee) and Arlington (Virginia). The company will invest in moderate and low income housing.
The first tranche of USD 567 million will be invested in 1,300 affordable houses near ‘HQ2’ which is Amazon’s new headquartyers in Virginia and up to 1,000 flats close to its Seattle, Washington headquarters, global news wire AP reported.