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Sound Transit, Amazon make $100 million commitment to affordable housing

The first $25 million will fund pre-development activities like site due diligence, engineering, and permitting.
Photo – Sound Transit


Sound Transit and Amazon have forged a partnership to accelerate the creation of up to 1,200 new affordable housing units on the agency's surplus properties near light-rail stations across the Puget Sound region. 

Amazon is committing $100 million in below-market funding to developers to help create and expedite the development of Sound Transit property offered for affordable housing, Sound Transit officials said in a press release.

The first $25 million will fund pre-development activities, such as site due diligence, engineering and permitting, while the remaining $75 million will support the housing construction, which is expected to begin within five years. 

Sound Transit is expanding light-rail service as part of voter-approved expansions. In addition, the agency has committed to promoting inclusive uses on its sites that that reflect the local community as part of Sound Transit board's equitable transit-oriented development (TOD) policy. 

To date, the TOD program has led to the creation of more than 1,500 affordable housing units on Sound Transit surplus property.

Contact Progressive Railroading editorial staff.

More News from 6/18/2021