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June 16, 2021, 6:27 a.m. EDT

Amazon commits $300 million to help build 3,000 affordable housing units near public transit areas

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By Tomi Kilgore

Amazon.com Inc. /zigman2/quotes/210331248/composite AMZN +0.11% said Wednesday it has committed $300 million to help accelerate the creation of up to 3,000 new affordable housing units across the Puget Sound area in Washington, in Washington, D.C. and Nashville. The Seattle-based ecommerce giant, in partnership with Sound Transit, said the commitment was in the form of below-market funding to developers to help expedite the building of affordable housing on Sound Transit property. The company has also committed $125 million to help build 1,000 affordable housing units at Metro Stations throughout D.C., and has committed $75 million to help build 800 affordable housing units near high-capacity transit corridors in the Nashville area. "Increasingly, we are facing an affordable housing crisis across the entire Puget Sound region, and Sound Transit is expanding rail service into communities that are becoming less and less affordable for working families," said Sound Transit Chief Executive Peter Rogoff. Amazon's stock, which slipped 0.2% in premarket trading, has gained 3.9% year to date through Tuesday, while the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.02% has advanced 13.1%.

/zigman2/quotes/210331248/composite
US : U.S.: Nasdaq
$ 3,630.32
+3.93 +0.11%
Volume: 3.00M
July 28, 2021 4:00p
P/E Ratio
69.09
Dividend Yield
N/A
Market Cap
$1828.87 billion
Rev. per Employee
$297,430
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/zigman2/quotes/210599714/realtime
US : S&P US
4,400.64
-0.82 -0.02%
Volume: 2.09B
July 28, 2021 4:55p
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