Amazon announced today that since December 2023, the company’s Housing Equity Fund (HEF) has committed more than $122 million to help preserve and support the development of over 1,700 affordable homes in Seattle, Bellevue, and Kirkland.
“Since launching the Amazon Housing Equity Fund three years ago, we’ve moved quickly to support local organizations and developers to increase the supply of affordable housing—and we’ve seen the impact we can make,” said Alice Shobe, global director of Amazon Community Impact. “In Bellevue, for example, where we now employ more than 12,000 people, we’ve helped increase the number of affordable housing units by 20%.”
Today’s announcement includes partnerships with nine local organizations focused on affordable housing. These affordable homes are located near resources residents need (like transit, schools, and employment centers) and will serve individuals and families earning between 50% to 80% of the area median income. These communities include:
- Ardea at Totem Lake in Kirkland, is a new affordable housing community under development by TWG, and will include 170 new homes reserved for seniors.
- MLK Family Housing is a new mixed-use development under construction in Rainier Valley that will include 147 new affordable homes. This project is a partnership with The Low Income Housing Institute (LIHI).
- Altaire at Jackson Park in North Seattle, a partnership between SRM Development and the Urban League of Metropolitan Seattle, will provide 206 affordable homes less than a mile from the Shoreline South/148th Link light rail station.
- Crossroads Apartments is an adaptive reuse affordable housing community by Great Expectations LLC. The project will transform the former Sagebrook Senior Living Center, a vacant assisted living facility, into 108 affordable homes in Bellevue.
- The Terrapin Apartments is being developed by Johnson & Carr and will provide 155 new affordable homes within a half-mile of the new Bellevue Downtown Link light rail station.
- Atrium Court Apartments will include 201 affordable homes, and Trace 4001 will include 191 affordable homes. Both projects are in Seattle’s Othello neighborhood, are close to the Othello light rail station, and are being developed by Nitze-Stagen.
- Bode Greenwood, a development in Seattle’s Greenwood neighborhood by Bode Affordable Living, will consist of 117 new affordable homes for individuals.
- The Claremont Apartments is an existing affordable housing community in Seattle’s Mt. Baker neighborhood and includes 68 affordable homes. The Lake Washington Apartments is an existing affordable housing community in Seattle’s Seward Park neighborhood, and includes 377 affordable homes. Amazon’s support will enable local nonprofit SouthEast Effective Development (SEED Seattle) to keep both of these apartment communities affordable for 99 years.
Since its launch in 2021, HEF has helped to significantly increase multifamily affordable housing throughout the region. Today’s announcement brings Amazon’s affordable housing commitments across the Puget Sound to a total of $670 million to help make over 7,200 homes available to more than 15,500 residents. Learn more about the Amazon Housing Equity Fund.
