Please wait as we prepare your PDF file ....

Mission Chronicle Blog

Search Blog

our goal is to help you stay informed by providing timely and interesting articles.

Amazon will match employee affordable housing donations

06/20/2019

Download PDF

Amazon this month became the latest in a string of high-profile tech companies to pledge new support for affordable housing, promising to donate money to several nonprofits and to match employees’ contributions to a variety of affordable housing projects.

The online retailer announced its housing plans last week in a statement, saying that it had made initial donations totaling $8 million to housing nonprofits based in the Seattle and Arlington, Virginia, areas. Amazon gave the money to two organizations — Plymouth Housing and the Arlington Community Foundation — that it said aim to “improve the quality of life for the most vulnerable residents by increasing access to additional housing units for families.”

Additionally, Amazon also revealed that through Sept. 30 it will match employee donations to a number of different nonprofits that “address housing and homelessness in both regions.”

Homes in Seattle | Credit: Sujata Jana, EyeEm and Getty Images

Amazon is based in Seattle and plans to open its much-touted HQ2 office in Arlington, Virginia. After the company announced that it would set up shop in Virginia, home prices in the surrounding area skyrocketed.

The new Building Opportunity Fund is among the causes to which Amazon employees can donate and have their contributions matched, a company spokesperson confirmed to Inman. The fund is a project of Bellwether Housing, which describes itself as Seattle’s largest nonprofit provider of affordable housing, and aims to raise $9 million from a pool of investors. That money will then be used to build 750 homes in the Seattle area by 2022.

How to optimize your Google business profile Does your name appear when local consumers Google “Best real estate agent”? READ MORE

Bellwether Housing, along with advocacy group Tech 4 Housing, unveiled details of the Building Opportunity Fund this week during an event on Amazon’s Seattle campus, according to GeekWire. And in an email to GeekWire, Tech 4 Housing Director Ethan Goodman said the new fund will allow “regular people with a little bit of money” to invest in the Seattle region’s housing.

“We hope that tech workers will be a large part of this campaign, and that investing can serve as one path towards deeper engagement on housing issues,” Goodman added.

Amazon’s promise to match investments in the fund is not the first time the online retailer has promised to funnel money into housing initiatives. The company’s statement notes that since 2016 it has pledged more than $130 million to fight homelessness and poverty. Amazon also joined other large tech firms and industry figures this month in donating to build homeless housing.

But Amazon’s latest donations and matching pledge also comes amid a slew of efforts from tech companies to fund housing in pricy cities with large technology industries. Earlier this year, for example, Microsoft promised to spend $500 million on affordable housing in the Seattle area. And this week, Google said it will invest $1 billion in housing in the Bay Area.

These efforts largely come in response to soaring housing costs in cities such as San Francisco and Seattle that have priced out many middle and lower wage earners. Though the prices are the result of complicated economic conditions, many have argued that the basic issue is a lack of housing supply in the face of growing populations and salaries.

Email Jim Dalrymple II

How do you stay ahead in a changing market? Inman Connect Las Vegas — featuring 250+ experts from across the industry sharing insight and tactics to navigate threat and seize opportunity in tomorrow’s real estate market. Join more than 4,000 top producers, brokers and industry leaders to network and discover what’s next, July 23-26 at the Aria Resort. Hurry! Tickets are going fast, register today!

Thinking of bringing your team? There are special onsite perks and discounts when you buy tickets together. Contact us to find out more.

Source: click here

Read More

INSPIRED, INTELLIGENT, INSIGHTFULL

STAY INFORMED WITH TIMELY AND INTERESTING ARTICLES FROM OUR BLOG, MISSION CHRONICLE. OUR ASPIRATION IS TO PROVIDE REALTORS AND OTHER REAL ESTATE INDUSTRY PROFESSIONALS WITH EXCEPTIONAL RESOURCES AND SHARE OUR KNOWLEDGE TO PROPEL YOU TO YOUR GOALS.

  • Mission Chronicle Newsletter July 24, 2023

    Mortgage rates continued to press downward last week after the previous week's CPI data pointed to e...

  • Mission Chronicle Newsletter Feb 20, 2023

    Despite the recent downward trend in mortgage rates and hopes that the Fed was nearing the end of it...

  • Mission Chronicle Newsletter Feb 6, 2023

    The Federal Reserve meeting ended as market participants expected, with a quarter-point increase and...

  • Mission Chronicle Newsletter Dec 26, 2022

    Mortgage rates held relatively steady last week as most economic news came in better than expected.C...

  • Mission Chronicle Newsletter Dec 12, 2022

    Rates managed to move slightly downward last week as recession fears grew amid hopes that the Fedis ...

  • Mission Chronicle Newsletter Dec 5th 2022

    Mission Chronicle Newsletter Dec 5th 2022. Platforms: Browser, mobile-responsiveIdeal for: Leasing a...

  • Inman Review: Tenants and leasing teams get better connected with RentTango

    Have suggestions for products that you’d like to see reviewed by our real estate technology ex...

  • Tech Review: Smart Alto puts people first in its innovative lead qualification solution

    Have suggestions for products that you’d like to see reviewed by our real estate technology ex...

  • Refreshed and nurture-savvy, Market Leader’s CRM deserves your attention

    Have suggestions for products that you’d like to see reviewed by our real estate technology ex...

  • The top 4 tips to improve your negotiation skills

    In today’s luxury real estate market, strong negotiation skills are an asset—you might even say ...

July 2024
Mon Tue Wed Thu Fri Sat Sun
1234567
891011121314
15161718192021
22232425262728
293031  

  • Polls

    What information you are looking for?

    View Results

    Loading ... Loading ...
  • Last month Results

    How Is My Site?

    • Good (100%, 3 Votes)
    • Excellent (0%, 0 Votes)
    • Bad (0%, 0 Votes)
    • Can Be Improved (0%, 0 Votes)
    • No Comments (0%, 0 Votes)

    Total Voters: 3

    Vote

    Loading ... Loading ...