Amazon has now pledged $2 billion USD in order to provide more affordable housing to low-income families and individuals.
The move follows in the footsteps of Apple, Facebook and Google, which have all committed at least $1 billion USD each towards creating more affordable homes in order to combat rising property prices due to the presence of the tech giants’ headquarters. In a similar fashion, the current House Equity Fund from Amazon will focus on the three areas where its main headquarters are located — Tennessee, Nashville, and Arlington, Virginia — and come in the form of low-cost loans, grants, and lines of credit for those earning between 30 to 80 percent of the median income in those regions.
“Amazon has a long-standing commitment to helping people in need, including the Mary’s Place family shelter we built inside our Puget Sound headquarters. The shelter now supports over 200 women and children experiencing homelessness every night,” says Amazon CEO Jeff Bezos. “This new $2 billion Housing Equity Fund will create or preserve 20,000 affordable homes in all three of our headquarters regions—Arlington, Puget Sound, and Nashville. It will also help local families achieve long-term stability while building strong, inclusive communities.”
Those interested in learning about Amazon’s initiative in detail can head over to Amazon’s blog post.
Elsewhere in the tech world, Apple has filed two patents for wireless charging on MacBooks.