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Rail News Home Passenger Rail

6/18/2021



Rail News: Passenger Rail

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

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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.



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