Amazon announced the Housing Equity Fund, a more than $2 billion commitment to preserve and create over 20,000 affordable housing units in Washington State’s Puget Sound region; Arlington, Virginia; and Nashville, Tennessee—three communities where the company has or expects to have at least 5,000 employees each in the coming years. Amazon’s Housing Equity Fund will help preserve existing housing and help create inclusive housing developments through below-market loans and grants to housing partners, traditional and non-traditional public agencies, and minority-led organizations. The Fund underscores Amazon’s commitment to affordable housing and will help ensure that moderate- to low-income families can afford housing in resource-rich communities with easy access to neighborhood services, amenities, and jobs. Amazon’s first investments include $381.9 million in below-market loans and grants to the Washington Housing Conservancy to preserve and create up to 1,300 affordable homes on the Crystal House property in Arlington and $185.5 million in below-market loans and grants to King County Housing Authority to preserve up to 1,000 affordable homes in the state of Washington, with additional investments to come in all three regions. Amazon’s Housing Equity Fund includes: Amazon is providing below-market capital—in the form of loans, lines of credit, and grants—to preserve and create 20,000 homes affordable for moderate- to low-income families in the Puget Sound region, Arlington, and Nashville. In each of these areas, Amazon is targeting households making between 30% to 80% of the area’s median income (AMI). In the Washington, D.C. metro area, this translates to a household of four earning less than $79,600 a year. In the Seattle-Tacoma-Bellevue metro area, this translates to a household of four earning less than $95,250 a year. Amazon’s Housing Equity Fund will provide an additional $125 million in cash grants to businesses, nonprofits, and minority-led organizations to help them build a more inclusive solution to the affordable housing crisis, which disproportionately affects communities of color. The Fund will also give grants to government partners not traditionally involved in affordable housing issues, such as transit agencies and school districts, to provide them with resources to advance and create equitable and affordable housing initiatives.