The tech giant’s Housing Equity Fund is helping to build or preserve 1,260 units in D.C. area.
, an effort rolled out by the tech giant to alleviate the shortage of affordable housing in D.C., Nashville and Seattle. Amazon is growing its corporate footprint in these three metro areas, where activists and government officials have worried an influx of well-paid tech employees will make that shortage even worse — to the point it could push out longtime residents.
Low-income tenants at the property, which is next to the Congress Heights Metro station, had for years been living in squalid conditions, including persistent mold and pests that were never addressed. D.C. Attorney General Karl A. Racine alleged that the landlord, Sanford Capital, had through its neglect been trying to force out low-income renters and make way for more expensive market-rate housing.
Wednesday’s announcement involves eight projects scattered around six D.C. wards, in addition to one project each in Fairfax, Montgomery and Price George’s counties., particularly those who make too little to keep up with rising rents but too much to qualify for most public benefits.Amazon has billed the fund as an effort to help renters making between 30 and 80 percent of the AMI. But as of April, just 6 percent of the units secured with that money in the D.C.
Arlington officials had expected to pay the company hundreds of thousands of dollars by this summer when their agreement was signed in 2019, but the coronavirus pandemic’s impact on the local economy meansIn addition to the Congress Heights Apartments, Amazon’s $147 million is also helping to fund the construction or purchase reservation of:
A new apartment building across the street from the Takoma Metro station in Ward 4, including 102 units for households earning between 60 to 80 percent AMI
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