Amazon has pledged more than $2 billion toward affordable housing in three communities across the country. It joins a handful of other affordable housing funds that have come to market recently. 

The company’s Housing Equity Fund will preserve and create more than 20,000 affordable housing units through below-market capital in the form of loans, lines of credit, and grants. Its initial focus will be on Washington State’s Puget Sound; Arlington, Virginia; and Nashville, Tenn.all communities where the e-commerce giant has or expects to have at least 5,000 employees in the future. In each of those areas, Amazon is targeting households making between 30% to 80% of the area’s median income.

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