Amazon pledges $2B for affordable housing in 3 US cities

SEATTLE (AP) — Amazon has announced $2 billion in loans and grants to secure affordable housing in three U.S. cities where it has major operations. It would go to the Seattle suburb of Bellevue, Arlington, Virginia, and Nashville, Tennessee. The Seattle Times reported Wednesday that Amazon said it would give $185.5 million to the King County Housing Authority in Washington state to help buy affordable apartments and keep the rents low. The agency is expected to pair that with bond funding to pay for its recent purchase of three Bellevue apartment buildings. Other tech companies have invested large sums to boost affordable housing after years of complaints that they have worsened inequality by pushing housing prices higher.