The Amazon Housing Equity Fund has announced a $23 million commitment to the development of affordable housing in Seattle.

The funding will go toward the creation and preservation of more than 568 affordable homes in Seattle, the first in the city supported by the Amazon Housing Equity Fund. Amazon is working with three Asian-, Black-, and Hispanic-led housing developers: Mount Baker Housing Association, which is leveraging low-rate loans totaling $15.2 million from the fund to support two affordable apartment developments; El Centro de la Raza, which teamed up with Amazon to develop affordable homes in the predominantly Spanish-speaking Columbia City neighborhood; and Gardner Global, which is working with Amazon to develop a new-construction apartment building.

“The Amazon Housing Equity Fund is a game-changer for those of us working to provide affordable housing in our respective communities,” said Mount Baker Housing executive director David Tan. “In addition, the fund supports development by organizations led by and working on behalf of people of color and other marginalized communities. This aspect is a critical part of supporting housing equity.”

“When our city’s businesses and private partners step up, like Amazon is doing through this significant investment, we can accelerate progress addressing difficult challenges like housing affordability,” said Seattle mayor Bruce Harrell. “This effort, in collaboration with the community-driven and diverse leadership at Mount Baker Housing Authority, El Centro de la Raza, and Gardner Global, means building more units to bolster the city’s stock of affordable housing.”

(Photo credit: Getty Images/benedek)