Amazon – one of the biggest tech companies in the United States – has announced to commit more than $2 billion to create and provide affordable housing at three of its main employment cities: Seattle, Arlington, and Nashville.
Tech companies have been blamed for creating housing problems where they’re located; with big tech companies, come surging home prices. Amazon’s goal is to aid in reducing this housing issue.
With Amazon’s $2 billion promise, also comes plans to invest in the areas for the next five years.
Where exactly is Amazon’s donation going? Their commitment will go toward low-cost loans to aid in building affordable housing. Amazon also plans to offer grants to public agencies and minority-led housing organizations.
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