Amazon To Invest Over $42.5 Mln To Build Affordable Homes In Puget Sound Region

(RTTNews) - Amazon.com Inc. (AMZN) announced it will invest more than $42.5 million to build 318 affordable homes adjacent to public transit sites in the Puget Sound region.

The e-commerce company also said that it will partner with Sound Transit, the transit system serving the Central Puget Sound region, to complete the projects.

The two new housing investments are among Amazon's first from its $300 million transit-oriented development strategy to create 3,000 new affordable homes in collaboration with the transit agencies. In partnership with Sound Transit and BRIDGE Housing, the online retailer aims to construct 233 new affordable apartments in Bellevue.

Joining hands with Sound Transit and Mercy Housing Northwest, Amazon plans to build at least 85 new reasonable apartments next to the light rail station in the City of SeaTac.

With the launch of the Amazon Housing Equity Fund last year, the retailer has aimed at over $344.3 million in loans and grants for the Puget Sound region to create and preserve 2,870 affordable homes.