Amazon Commits $10.6 Mln To Create 130 Affordable Homes In Nashville

(RTTNews) - Amazon.com, Inc. (AMZN) announced Wednesday that it will invest a total of $10.6 million to help build and renovate more than 130 affordable homes in partnership with the Metropolitan Development and Housing Agency (MDHA), and support the social work of the local nonprofit CrossBridge Inc.

This commitment is part of the Amazon Housing Equity Fund, a more than $2 billion commitment to create and preserve 20,000 affordable homes for individuals and families earning moderate-to-low incomes in Nashville, Washington state's Puget Sound region, and the Arlington, Virginia, region.

Amazon's commitment to MDHA consists of a $7.1 million low-rate loan to support the construction of Cherry Oak Apartments, a mixed-income residential development featuring 96 apartments, including 53 affordable homes in the Cayce Place neighborhood in East Nashville.

Additionally, Amazon is providing a $3.5 million grant to CrossBridge, a Nashville nonprofit that provides housing and supportive services to adults overcoming addiction.

Over the past two years, Amazon has committed more than $94 million to affordable housing efforts in Nashville.