Amazon has announced it will invest $81.7 million to build 742 affordable homes near public transit sites in the Arlington, Virginia-Washington, D.C., region. 

The retail giant is working with the Washington Metropolitan Area Transit Authority (Metro) to complete the housing developments. In 2021, Amazon committed $300 million from its Housing Equity Fund to create 3,000 affordable homes in collaboration with the transit agencies in Amazon’s hometown communities. The latest commitment includes the Margaux at the New Carrollton Metro Station, which will include 291 new construction apartments, with guaranteed affordability for 98 years, adjacent to the Metro station in New Carrollton, Maryland; and the Atworth at the College Park Metro Station, which will include 451 new apartments, immediately adjacent to the Metro Station, bus lines, MARC Train, University of Maryland Shuttle Service, and the Purple Line, which is currently under construction. 

Since launching the Housing Equity Fund in January 2021, Amazon has committed more than $795 million in loans and grants for the capital region to create and preserve more than 4,400 affordable homes. Based on data provided by Arlington County, the Housing Equity Fund has increased the long-term committed multifamily affordable housing stock in Arlington by 22 percent.

“Amazon is acting at the scale this region needs to create and preserve affordable housing. Their bold steps are effecting real change,” said Arlington County board chair Katie Cristol. “Amazon’s particular focus on transit-oriented affordable housing is essential to meeting our region’s climate and emissions-reduction goals, as well as our affordable housing goals, and this focus will also increase economic opportunity for our lower- and moderate- income neighbors.” 

(Photo Credit: Getty Images/CHUNYIP WONG)